Miles Capital Inc. lowered its position in Timken Co (NYSE:TKR) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,592 shares of the industrial products company’s stock after selling 369 shares during the quarter. Miles Capital Inc.’s holdings in Timken were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Evoke Wealth LLC purchased a new stake in Timken during the third quarter worth approximately $27,000. Flagship Harbor Advisors LLC lifted its stake in shares of Timken by 72.6% during the third quarter. Flagship Harbor Advisors LLC now owns 918 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 386 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of Timken during the second quarter worth about $56,000. Quest Capital Management Inc. ADV acquired a new position in shares of Timken during the third quarter worth about $78,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Timken in the third quarter worth about $107,000. Hedge funds and other institutional investors own 76.35% of the company’s stock.
In other news, EVP Christopher A. Coughlin sold 46,813 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $53.00, for a total value of $2,481,089.00. Following the sale, the executive vice president now owns 115,539 shares in the company, valued at approximately $6,123,567. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Shelly Marie Chadwick purchased 1,183 shares of Timken stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $52.73 per share, for a total transaction of $62,379.59. In the last 90 days, insiders sold 77,977 shares of company stock valued at $4,145,196. Insiders own 11.58% of the company’s stock.
A number of research firms have recently issued reports on TKR. Zacks Investment Research upgraded Timken from a “strong sell” rating to a “hold” rating and set a $60.00 target price for the company in a research note on Thursday, January 2nd. Morgan Stanley boosted their price target on Timken from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. KeyCorp upped their price target on Timken from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Stifel Nicolaus increased their price objective on shares of Timken from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, ValuEngine upgraded shares of Timken from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Timken has an average rating of “Hold” and a consensus price target of $62.50.
NYSE TKR traded down $1.27 during mid-day trading on Tuesday, reaching $56.95. 39,658 shares of the company’s stock traded hands, compared to its average volume of 421,859. The company has a current ratio of 2.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.89. Timken Co has a 1-year low of $37.74 and a 1-year high of $58.78. The company has a fifty day simple moving average of $56.19 and a 200-day simple moving average of $48.42. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.50 and a beta of 1.84.
Timken (NYSE:TKR) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.04). The business had revenue of $914.00 million during the quarter, compared to analyst estimates of $945.87 million. Timken had a net margin of 8.11% and a return on equity of 21.12%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 earnings per share. Equities research analysts forecast that Timken Co will post 4.72 earnings per share for the current fiscal year.
The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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