Quantinno Capital Management LP Decreases Stake in The Timken Company (NYSE:TKR)

Nov 27, 2023

Quantinno Capital Management LP lessened its stake in The Timken Company (NYSE:TKR - Get Rating) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,256 shares of the industrial products company's stock after selling 2,325 shares during the quarter. Quantinno Capital Management LP owned approximately 0.05% of Timken worth $2,633,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. CWM LLC lifted its position in shares of Timken by 39.8% in the 4th quarter. CWM LLC now owns 481 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Symphony Financial Ltd. Co. lifted its position in Timken by 2.0% in the 4th quarter. Symphony Financial Ltd. Co. now owns 7,243 shares of the industrial products company's stock worth $514,000 after buying an additional 141 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in Timken by 1.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,908 shares of the industrial products company's stock worth $821,000 after buying an additional 144 shares in the last quarter. Royal Fund Management LLC lifted its position in Timken by 1.3% in the 4th quarter. Royal Fund Management LLC now owns 11,564 shares of the industrial products company's stock worth $817,000 after buying an additional 146 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Timken by 9.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,784 shares of the industrial products company's stock worth $126,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 82.00% of the company's stock.

In related news, CEO Richard G. Kyle sold 24,851 shares of Timken stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $73.74, for a total transaction of $1,832,512.74. Following the completion of the transaction, the chief executive officer now directly owns 383,082 shares of the company's stock, valued at approximately $28,248,466.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Richard G. Kyle sold 23,232 shares of Timken stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $73.77, for a total transaction of $1,713,824.64. Following the completion of the sale, the chief executive officer now owns 383,082 shares in the company, valued at approximately $28,259,959.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard G. Kyle sold 24,851 shares of Timken stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $73.74, for a total transaction of $1,832,512.74. Following the sale, the chief executive officer now owns 383,082 shares of the company's stock, valued at approximately $28,248,466.68. The disclosure for this sale can be found here. 9.89% of the stock is currently owned by insiders.

Shares of Timken stock traded down $1.49 during trading on Friday, hitting $82.28. 172,443 shares of the company's stock traded hands, compared to its average volume of 604,731. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.76 and a quick ratio of 1.47. The firm's fifty day moving average price is $76.36 and its 200 day moving average price is $77.40. The Timken Company has a twelve month low of $50.85 and a twelve month high of $89.40. The company has a market cap of $5.96 billion, a PE ratio of 14.98, a PEG ratio of 0.96 and a beta of 1.54.

Timken (NYSE:TKR - Get Rating) last issued its earnings results on Wednesday, May 3rd. The industrial products company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.24. Timken had a net margin of 8.88% and a return on equity of 20.72%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $1.61 EPS. The firm's revenue was up 12.3% on a year-over-year basis. Analysts forecast that The Timken Company will post 7.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 16th were issued a dividend of $0.33 per share. This is an increase from Timken's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 1.60%. The ex-dividend date was Monday, May 15th. Timken's dividend payout ratio (DPR) is currently 23.61%.

TKR has been the topic of a number of recent research reports. Evercore ISI cut their price target on shares of Timken from $89.00 to $83.00 in a report on Tuesday, May 9th. StockNews.com upgraded shares of Timken from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 11th. Finally, Jefferies Financial Group raised their target price on shares of Timken from $95.00 to $105.00 and gave the company a "buy" rating in a research note on Monday, March 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Timken currently has an average rating of "Moderate Buy" and an average target price of $90.78.

The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Timken Company (NYSE:TKR - Get Rating).

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