5,355 Shares in The Timken Company (NYSE:TKR) Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC acquired a new position in shares of The Timken Company (NYSE:TKR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,355 shares of the industrial products company’s stock, valued at approximately $451,000.

Several other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in Timken by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 649,952 shares of the industrial products company’s stock worth $54,784,000 after acquiring an additional 1,989 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Timken by 0.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 122,557 shares of the industrial products company’s stock worth $10,330,000 after acquiring an additional 580 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Timken by 16.5% during the third quarter. First Horizon Advisors Inc. now owns 1,823 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 258 shares in the last quarter. Howe & Rusling Inc. boosted its stake in Timken by 7.6% during the third quarter. Howe & Rusling Inc. now owns 4,412 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 311 shares in the last quarter. Finally, Commerce Bank lifted its stake in shares of Timken by 5.5% in the third quarter. Commerce Bank now owns 5,994 shares of the industrial products company’s stock worth $505,000 after buying an additional 310 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

TKR has been the topic of several analyst reports. Oppenheimer dropped their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Citigroup initiated coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. DA Davidson dropped their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has an average rating of “Hold” and a consensus target price of $90.00.

Insider Activity

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

Timken Trading Up 0.3 %

Shares of Timken stock opened at $76.80 on Friday. The company’s fifty day simple moving average is $81.20 and its 200-day simple moving average is $82.56. The stock has a market capitalization of $5.38 billion, a PE ratio of 15.97, a P/E/G ratio of 1.15 and a beta of 1.43. 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 issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 EPS. As a group, equities analysts anticipate 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 given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.77%. Timken’s payout ratio is 28.27%.

Timken 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.