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Harbour Capital Advisors LLC Buys Shares of 4,150 The Timken Company

Resource from: Likes:150
Mar 23,2023


Harbour Capital Advisors LLC bought a new stake in The Timken Company (NYSE:TKR - Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,150 shares of the industrial products company's stock, valued at approximately $289,000.

Other hedge funds also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. purchased a new position in Timken in the second quarter valued at about $39,000. Private Trust Co. NA acquired a new stake in shares of Timken in the second quarter valued at approximately $35,000. My Personal CFO LLC acquired a new stake in shares of Timken in the fourth quarter valued at approximately $60,000. Quadrant Capital Group LLC grew its position in shares of Timken by 40.2% in the second quarter. Quadrant Capital Group LLC now owns 854 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 245 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Timken in the first quarter valued at approximately $76,000. 82.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TKR. Bank of America raised shares of Timken from a "neutral" rating to a "buy" rating and increased their price target for the stock from $71.00 to $87.00 in a research note on Friday, January 13th. Citigroup lifted their price target on shares of Timken from $78.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, February 8th. Morgan Stanley raised their price objective on shares of Timken from $83.00 to $88.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 7th. Oppenheimer boosted their target price on shares of Timken from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, February 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Timken from $70.00 to $79.00 and gave the company a "neutral" rating in a research note on Wednesday, February 8th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.75.

Insiders Place Their Bets

In other news, CEO Richard G. Kyle sold 24,841 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $85.97, for a total transaction of $2,135,580.77. Following the completion of the sale, the chief executive officer now owns 383,082 shares of the company's stock, valued at $32,933,559.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.79% of the company's stock.

Timken Stock Up 5.1 %

TKR opened at $80.04 on Wednesday. The firm's 50-day simple moving average is $82.34 and its 200-day simple moving average is $73.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.30 and a current ratio of 2.47. The Timken Company has a twelve month low of $50.85 and a twelve month high of $89.40. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.90 and a beta of 1.54.

Timken (NYSE:TKR - Get Rating) last released its earnings results on Monday, February 6th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.13. Timken had a net margin of 9.06% and a return on equity of 19.52%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company posted $0.78 EPS. The company's revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that The Timken Company will post 6.86 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 6th. Investors of record on Tuesday, February 21st were paid a dividend of $0.31 per share. The ex-dividend date was Friday, February 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.55%. Timken's payout ratio is 22.63%.

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