Fairway Wealth LLC Makes New $29,000 Investment in The Timken Company (NYSE:TKR)

Fairway Wealth LLC bought a new position in shares of The Timken Company (NYSE:TKR) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 400 shares of the industrial products company’s stock, valued at approximately $29,000.

Other large investors have also recently added to or reduced their stakes in the company. Coastline Trust Co bought a new position in Timken during the 3rd quarter worth about $29,000. Amundi increased its holdings in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares in the last quarter. Brooklyn Investment Group bought a new position in Timken during the 3rd quarter worth about $74,000. Venturi Wealth Management LLC increased its holdings in Timken by 230.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 759 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Timken during the 4th quarter worth about $109,000. Institutional investors own 89.08% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Timken Trading Down 2.9 %

Shares of NYSE:TKR opened at $74.83 on Tuesday. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The company has a market capitalization of $5.24 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The company has a 50-day simple moving average of $77.86 and a 200 day simple moving average of $78.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (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%. Sell-side analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

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

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.