Brandes Investment Partners LP Takes $4.64 Million Position in The Timken Company (NYSE:TKR)

Brandes Investment Partners LP acquired a new stake in shares of The Timken Company (NYSE:TKR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 65,066 shares of the industrial products company’s stock, valued at approximately $4,644,000. Brandes Investment Partners LP owned approximately 0.09% of Timken at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TKR. State of New Jersey Common Pension Fund D lifted its stake in Timken by 3.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 23,397 shares of the industrial products company’s stock valued at $1,972,000 after buying an additional 753 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Timken by 2.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 51,614 shares of the industrial products company’s stock valued at $4,351,000 after buying an additional 1,356 shares in the last quarter. Huntington National Bank lifted its stake in Timken by 6.9% during the third quarter. Huntington National Bank now owns 3,862 shares of the industrial products company’s stock valued at $326,000 after buying an additional 250 shares in the last quarter. Royce & Associates LP lifted its stake in Timken by 73.2% during the third quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock valued at $16,054,000 after buying an additional 80,513 shares in the last quarter. Finally, Coastline Trust Co purchased a new stake in Timken during the third quarter valued at about $29,000. Institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TKR. Morgan Stanley increased their price target on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Evercore ISI increased their price target on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup cut their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.70.

Timken Trading Up 2.7 %

Shares of TKR stock opened at $74.58 on Friday. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $78.09 and its two-hundred day moving average is $78.73. The company has a market cap of $5.22 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Equities analysts predict that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken’s payout ratio is 27.25%.

Insider Transactions at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.