Diversify Wealth Management LLC Has $374,000 Stock Position in The Timken Company (NYSE:TKR)

Diversify Wealth Management LLC lowered its holdings in shares of The Timken Company (NYSE:TKR) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,442 shares of the industrial products company’s stock after selling 413 shares during the period. Diversify Wealth Management LLC’s holdings in Timken were worth $374,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in Timken in the second quarter worth approximately $4,363,000. Comerica Bank boosted its holdings in Timken by 13.8% in the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after acquiring an additional 7,160 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after acquiring an additional 347,794 shares in the last quarter. BNP Paribas bought a new position in Timken in the first quarter worth approximately $1,144,000. Finally, Sei Investments Co. boosted its holdings in Timken by 26.4% in the first quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock worth $34,462,000 after acquiring an additional 82,382 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity

In other news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer now owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.70% of the stock is currently owned by corporate insiders.

Timken Price Performance

NYSE:TKR opened at $83.15 on Friday. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.92 and a beta of 1.43. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The stock has a fifty day moving average of $83.01 and a 200 day moving average of $84.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the company earned $2.01 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts expect that The Timken Company will post 6.05 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio (DPR) is currently 27.87%.

Analysts Set New Price Targets

TKR has been the topic of a number of recent research reports. Citigroup initiated coverage on Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Evercore ISI dropped their target price on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, DA Davidson restated a “buy” rating and issued a $103.00 target price on shares of Timken in a report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $91.70.

Timken Company 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.