Huntington National Bank Acquires 250 Shares of The Timken Company (NYSE:TKR)

Huntington National Bank increased its holdings in The Timken Company (NYSE:TKR) by 6.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,862 shares of the industrial products company’s stock after purchasing an additional 250 shares during the quarter. Huntington National Bank’s holdings in Timken were worth $326,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 343 shares in the last quarter. Versant Capital Management Inc purchased a new position in Timken in the second quarter worth $30,000. Livelsberger Financial Advisory purchased a new position in Timken in the third quarter worth $32,000. UMB Bank n.a. increased its position in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Timken during the 2nd quarter valued at $44,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

TKR has been the topic of several recent analyst reports. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and upped their target price for the company from $87.00 to $91.00 in a research report on Wednesday. KeyCorp decreased their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Citigroup assumed coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Oppenheimer decreased their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, DA Davidson dropped their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $90.00.

Insider Activity

In related news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.70% of the company’s stock.

Timken Trading Up 0.8 %

Shares of Timken stock opened at $75.59 on Friday. The stock has a market cap of $5.30 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The firm has a fifty day moving average price of $81.89 and a 200 day moving average price of $83.36. The Timken Company has a 1 year low of $71.57 and a 1 year high of $94.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.80%. Timken’s payout ratio is 28.27%.

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.