Diversify Wealth Management LLC Sells 413 Shares of The Timken Company (NYSE:TKR)

Diversify Wealth Management LLC reduced its stake in The Timken Company (NYSE:TKR) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,442 shares of the industrial products company’s stock after selling 413 shares during the quarter. Diversify Wealth Management LLC’s holdings in Timken were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Pinnacle Associates Ltd. lifted its position in Timken by 6.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 27,707 shares of the industrial products company’s stock valued at $2,221,000 after acquiring an additional 1,682 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Timken by 1.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 35,163 shares of the industrial products company’s stock worth $2,963,000 after buying an additional 500 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Timken by 17.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 18,379 shares of the industrial products company’s stock worth $1,549,000 after buying an additional 2,745 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in shares of Timken by 1.0% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after buying an additional 155 shares during the last quarter. Finally, Riverwater Partners LLC purchased a new position in shares of Timken in the 3rd quarter worth $202,000. 89.08% of the stock is owned by institutional investors.

Timken Stock Up 0.2 %

Shares of NYSE TKR opened at $83.15 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.92 and a beta of 1.43. The stock has a 50 day moving average price of $83.01 and a 200 day moving average price of $84.01. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. Timken’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.01 earnings per share. Sell-side analysts expect that The Timken Company will post 6.05 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is 27.87%.

Insider Buying and Selling

In other news, CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the transaction, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of research reports. Evercore ISI dropped their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. DA Davidson restated a “buy” rating and issued a $103.00 price target on shares of Timken in a research note on Tuesday, September 17th. Finally, Citigroup began coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $91.70.

Timken Profile

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.