Timken Company (The) $TKR Stock Acquired by Keybank National Association OH

Keybank National Association OH boosted its position in shares of Timken Company (The) (NYSE:TKR) by 7.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 889,664 shares of the industrial products company’s stock after buying an additional 61,324 shares during the period. Keybank National Association OH’s holdings in Timken were worth $103,868,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TKR. BlackRock Inc. bought a new position in Timken in the 2nd quarter valued at about $869,997,000. Dimensional Fund Advisors LP raised its position in shares of Timken by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,886,955 shares of the industrial products company’s stock valued at $290,320,000 after buying an additional 214,845 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Timken in the 2nd quarter valued at approximately $140,755,000. William Blair Investment Management LLC bought a new stake in shares of Timken during the 2nd quarter worth approximately $138,757,000. Finally, Nykredit A S bought a new stake in shares of Timken during the 2nd quarter worth approximately $108,692,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on TKR shares. Oppenheimer reiterated an “outperform” rating and set a $150.00 price target on shares of Timken in a research report on Thursday, October 1st. Wall Street Zen upgraded shares of Timken from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Citigroup lowered their price objective on shares of Timken from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. The Goldman Sachs Group restated a “neutral” rating and set a $126.00 target price on shares of Timken in a research note on Thursday, November 5th. Finally, Weiss Ratings raised Timken from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 20th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $141.90.

Timken Stock Performance

NYSE:TKR opened at $109.08 on Wednesday. Timken Company has a twelve month low of $73.62 and a twelve month high of $146.37. The company has a quick ratio of 1.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $115.04 and its 200 day simple moving average is $117.59. The firm has a market capitalization of $7.49 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, November 4th. The industrial products company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.48 by $0.17. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Timken had a return on equity of 13.13% and a net margin of 5.88%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 earnings per share. On average, analysts anticipate that Timken Company will post 6.37 EPS for the current fiscal year.

Timken Company Profile

Timken is a global manufacturer of engineered bearings and industrial motion products. Its offerings include bearings, seals, lubrication systems, chains, belts, couplings and related components designed to support the movement and operation of industrial equipment. The company serves customers across a range of industries, including aerospace, agriculture, construction, energy, rail, mining and manufacturing. In addition to products, Timken provides services such as equipment repair and maintenance to help customers manage machinery performance.