Huntington National Bank Sells 289 Shares of The Timken Company (NYSE:TKR)

Huntington National Bank trimmed its stake in shares of The Timken Company (NYSE:TKR) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,573 shares of the industrial products company’s stock after selling 289 shares during the quarter. Huntington National Bank’s holdings in Timken were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TKR. M&T Bank Corp lifted its holdings in Timken by 0.6% in the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after buying an additional 144 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 158 shares during the period. Amundi boosted its position in shares of Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares in the last quarter. Sheets Smith Wealth Management grew its stake in Timken by 3.4% during the fourth quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 190 shares during the period. Finally, Principal Securities Inc. increased its holdings in Timken by 7.8% in the fourth quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 207 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TKR. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. The Goldman Sachs Group dropped their price objective on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup reduced their target price on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Evercore ISI upped their price target on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.82.

Timken Stock Down 5.6 %

Shares of NYSE:TKR opened at $59.88 on Friday. The business’s 50 day moving average is $77.08 and its 200 day moving average is $77.84. The Timken Company has a 12-month low of $58.26 and a 12-month high of $94.71. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. On average, sell-side analysts forecast that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio is presently 27.25%.

Timken Company 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.