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

Keybank National Association OH grew its stake in shares of Timken Company (The) (NYSE:TKR) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 889,664 shares of the industrial products company’s stock after acquiring an additional 61,324 shares during the period. Keybank National Association OH owned 1.28% of Timken worth $103,868,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Segall Bryant & Hamill LLC increased its stake in shares of Timken by 29.9% during the first quarter. Segall Bryant & Hamill LLC now owns 451,516 shares of the industrial products company’s stock worth $45,409,000 after purchasing an additional 103,904 shares during the period. Nykredit A S acquired a new stake in Timken during the 2nd quarter worth approximately $108,692,000. Tocqueville Asset Management L.P. bought a new stake in Timken in the 2nd quarter valued at $4,506,000. TD Waterhouse Canada Inc. boosted its stake in Timken by 55.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 178,506 shares of the industrial products company’s stock valued at $25,320,000 after purchasing an additional 63,553 shares during the period. Finally, State of Wyoming bought a new stake in Timken in the 2nd quarter valued at $1,466,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TKR shares. Citigroup decreased their price objective on Timken from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Wall Street Zen raised Timken from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Weiss Ratings raised shares of Timken from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 20th. Jefferies Financial Group set a $135.00 target price on shares of Timken in a research report on Tuesday, September 1st. Finally, DA Davidson set a $130.00 price target on shares of Timken in a research note on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Timken presently has an average rating of “Moderate Buy” and an average price target of $141.90.

Timken Stock Up 0.2%

Shares of TKR opened at $109.08 on Wednesday. The company has a current ratio of 2.56, a quick ratio of 1.40 and a debt-to-equity ratio of 0.52. Timken Company has a 12 month low of $73.62 and a 12 month high of $146.37. The firm’s 50 day moving average is $115.04 and its 200-day moving average is $117.59. The stock has a market capitalization of $7.49 billion, a PE ratio of 27.00, a P/E/G ratio of 1.18 and a beta of 1.19.

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