22,317 Shares in Timken Company (The) $TKR Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Timken Company (The) (NYSE:TKR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,317 shares of the industrial products company’s stock, valued at approximately $1,678,000.

Several other hedge funds also recently bought and sold shares of TKR. Mather Group LLC. acquired a new stake in shares of Timken during the third quarter valued at about $25,000. SJS Investment Consulting Inc. raised its position in Timken by 4,512.5% in the third quarter. SJS Investment Consulting Inc. now owns 369 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 361 shares during the period. CWM LLC lifted its stake in Timken by 31.4% during the second quarter. CWM LLC now owns 527 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 126 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Timken during the second quarter worth $42,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Timken by 1,954.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 719 shares of the industrial products company’s stock valued at $52,000 after buying an additional 684 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TKR. Oppenheimer boosted their price target on shares of Timken from $90.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Timken in a research report on Wednesday, January 21st. Wall Street Zen raised Timken from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup increased their price objective on Timken from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, DA Davidson boosted their target price on Timken from $80.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Timken has an average rating of “Hold” and a consensus target price of $85.30.

Insider Activity

In related news, Director Richard G. Kyle sold 15,837 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $81.03, for a total value of $1,283,272.11. Following the transaction, the director owned 266,942 shares in the company, valued at $21,630,310.26. The trade was a 5.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.70% of the stock is currently owned by corporate insiders.

Timken Stock Performance

NYSE TKR opened at $94.07 on Friday. The company has a fifty day moving average of $87.17 and a two-hundred day moving average of $80.42. The company has a market capitalization of $6.55 billion, a PE ratio of 22.24, a P/E/G ratio of 1.82 and a beta of 1.21. Timken Company has a 1 year low of $56.20 and a 1 year high of $95.19. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.11 and a quick ratio of 1.71.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. Timken had a net margin of 6.54% and a return on equity of 11.88%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the company posted $1.23 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, November 25th. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. Timken’s dividend payout ratio is 33.10%.

Timken Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.