Livforsakringsbolaget Skandia Omsesidigt Sells 5,600 Shares of The Timken Company (NYSE:TKR)

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of The Timken Company (NYSE:TKR) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,700 shares of the industrial products company’s stock after selling 5,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Timken were worth $1,339,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in shares of Timken in the second quarter valued at $36,000. IFP Advisors Inc raised its holdings in shares of Timken by 96.3% in the second quarter. IFP Advisors Inc now owns 430 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 211 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Timken in the first quarter valued at about $36,000. Lazard Asset Management LLC purchased a new stake in shares of Timken in the fourth quarter valued at about $34,000. Finally, Money Concepts Capital Corp purchased a new stake in shares of Timken in the fourth quarter valued at about $35,000. 89.08% of the stock is owned by institutional investors.

Timken Price Performance

TKR opened at $84.22 on Thursday. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.17 and a beta of 1.54. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $84.80 and a 200-day moving average price of $78.82. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08.

Timken (NYSE:TKR) last posted its earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.15. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.06 billion. Timken had a net margin of 8.26% and a return on equity of 19.57%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. Equities analysts expect that The Timken Company will post 6.02 EPS for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were given a $0.33 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.57%. Timken’s dividend payout ratio (DPR) is currently 24.18%.

Analysts Set New Price Targets

Several brokerages have recently commented on TKR. StockNews.com downgraded shares of Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price for the company. in a report on Tuesday, February 20th. Oppenheimer restated an “outperform” rating and set a $100.00 price objective (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. The Goldman Sachs Group raised their price objective on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Finally, DA Davidson assumed coverage on shares of Timken in a report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.90.

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.