Segall Bryant & Hamill LLC increased its holdings in Timken Company (The) (NYSE:TKR – Free Report) by 29.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 451,516 shares of the industrial products company’s stock after buying an additional 103,904 shares during the period. Timken comprises about 0.6% of Segall Bryant & Hamill LLC’s holdings, making the stock its 28th biggest position. Segall Bryant & Hamill LLC’s holdings in Timken were worth $45,409,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TKR. Gordian Capital Singapore Pte Ltd bought a new stake in Timken during the 4th quarter valued at $25,000. Clearstead Advisors LLC boosted its position in shares of Timken by 130.3% during the 4th quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Timken in the 4th quarter worth approximately $31,000. Kestra Investment Management LLC bought a new position in Timken in the second quarter valued at $42,000. Finally, Danske Bank A S bought a new position in shares of Timken during the 3rd quarter valued at about $45,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.
Timken Stock Performance
Shares of NYSE TKR opened at $137.69 on Friday. The company has a current ratio of 2.88, a quick ratio of 1.55 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.20. Timken Company has a 12-month low of $70.57 and a 12-month high of $146.37. The firm has a 50 day moving average of $136.97 and a 200 day moving average of $115.52.
Timken Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.36 per share. This is an increase from Timken’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, May 19th. Timken’s dividend payout ratio (DPR) is 32.73%.
Insider Transactions at Timken
In related news, Director Richard G. Kyle sold 37,181 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.34, for a total transaction of $4,362,818.54. Following the completion of the transaction, the director owned 206,455 shares in the company, valued at approximately $24,225,429.70. This represents a 15.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ajita G. Rajendra sold 8,450 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $131.34, for a total value of $1,109,823.00. Following the transaction, the director owned 20,225 shares of the company’s stock, valued at approximately $2,656,351.50. The trade was a 29.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 69,079 shares of company stock valued at $8,296,144. 8.10% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several research firms have issued reports on TKR. DA Davidson began coverage on shares of Timken in a research report on Tuesday, June 16th. They set a “neutral” rating and a $130.00 price target for the company. Oppenheimer raised their target price on shares of Timken from $147.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. KeyCorp raised their price objective on Timken from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Timken in a research note on Friday, July 17th. Finally, Morgan Stanley set a $140.00 target price on shares of Timken in a research note on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.00.
Read Our Latest Analysis on Timken
Timken Company 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.
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