Gabelli Funds LLC Has $19.57 Million Holdings in The Timken Company (NYSE:TKR)

Gabelli Funds LLC boosted its holdings in The Timken Company (NYSE:TKR) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,222 shares of the industrial products company’s stock after buying an additional 1,100 shares during the period. Gabelli Funds LLC’s holdings in Timken were worth $19,571,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in Timken by 8.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 158 shares in the last quarter. Amundi increased 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 worth $61,000 after purchasing an additional 174 shares during the last quarter. Sheets Smith Wealth Management raised its stake in shares of Timken by 3.4% during the 4th 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 in the last quarter. Principal Securities Inc. raised its position in Timken by 7.8% during the fourth quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 207 shares in the last quarter. Finally, MML Investors Services LLC lifted its stake in Timken by 3.8% in the third quarter. MML Investors Services LLC now owns 5,790 shares of the industrial products company’s stock valued at $488,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Up 0.2 %

Shares of TKR opened at $62.02 on Wednesday. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $4.34 billion, a PE ratio of 12.43, a P/E/G ratio of 1.51 and a beta of 1.28. The firm’s 50 day moving average is $73.79 and its 200-day moving average is $76.46. The Timken Company has a 12 month low of $56.20 and a 12 month high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Equities research analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s payout ratio is presently 27.25%.

Insider Transactions at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TKR shares. Citigroup cut their target price on shares of Timken from $95.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. 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 research report on Wednesday, April 2nd. Finally, Morgan Stanley lifted their target price on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.45.

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.