Thrivent Financial for Lutherans Sells 554,952 Shares of Timken Company (The) $TKR

Thrivent Financial for Lutherans cut its position in shares of Timken Company (The) (NYSE:TKR) by 29.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,306,527 shares of the industrial products company’s stock after selling 554,952 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Timken were worth $98,225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TKR. Highland Capital Management LLC boosted its holdings in Timken by 39.7% during the second quarter. Highland Capital Management LLC now owns 59,260 shares of the industrial products company’s stock valued at $4,299,000 after purchasing an additional 16,840 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Timken in the 3rd quarter worth approximately $22,624,000. Sequoia Financial Advisors LLC bought a new position in shares of Timken during the 2nd quarter worth approximately $387,000. New York State Common Retirement Fund boosted its stake in Timken by 6.3% in the 3rd quarter. New York State Common Retirement Fund now owns 461,129 shares of the industrial products company’s stock valued at $34,668,000 after buying an additional 27,515 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Timken by 13.4% in the second quarter. American Century Companies Inc. now owns 3,845,175 shares of the industrial products company’s stock valued at $278,968,000 after acquiring an additional 455,050 shares during the period. 89.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TKR shares. Wall Street Zen raised Timken from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Oppenheimer lifted their price target on shares of Timken from $90.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Timken in a research note on Wednesday, January 21st. DA Davidson raised their price objective on shares of Timken from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Timken from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.30.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 15,837 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $81.03, for a total transaction of $1,283,272.11. Following the transaction, the director owned 266,942 shares of the company’s stock, valued at $21,630,310.26. This represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.70% of the stock is currently owned by insiders.

Timken Price Performance

Shares of TKR stock opened at $93.10 on Friday. Timken Company has a 1 year low of $56.20 and a 1 year high of $95.19. The company has a current ratio of 3.11, a quick ratio of 1.71 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $87.48 and its 200-day moving average is $80.56. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.84 and a beta of 1.21.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. Timken had a net margin of 6.54% and a return on equity of 11.88%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $1.23 earnings per share. Timken’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, November 25th. Timken’s dividend payout ratio (DPR) is 33.10%.

Timken 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.