Harbour Capital Advisors LLC Buys Shares of 4,150 The Timken Company
Time：23 Mar,2023
<p style="text-align: center;"><img src="/ueditor/php/upload/image/20230323/1679548290872598.png" title="1679548290872598.png" alt="3.png"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Analyst Ratings Changes</span></p><p><span style="font-family: arial, helvetica, sans-serif; font-size: 12px; text-align: justify;">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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.75.</span><br/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Insiders Place Their Bets</span></p><p><span style="font-family: arial, helvetica, sans-serif; font-size: 12px; text-align: justify;">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.</span><br/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Timken Stock Up 5.1 %</span></p><p><span style="font-family: arial, helvetica, sans-serif; font-size: 12px; text-align: justify;">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.</span><br/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Timken Dividend Announcement</span></p><p><span style="font-family: arial, helvetica, sans-serif; font-size: 12px; text-align: justify;">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%.</span><br/></p><p><br/></p>
