The Timken Company (NYSE:TKR) Shares Acquired by State Street Corp

State Street Corp boosted its stake in The Timken Company (NYSE:TKR) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,953,838 shares of the industrial products company’s stock after purchasing an additional 66,208 shares during the period. State Street Corp owned about 2.79% of Timken worth $164,689,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after purchasing an additional 97,550 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after purchasing an additional 434,800 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in Timken by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock valued at $105,957,000 after purchasing an additional 26,671 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on TKR. Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $90.00 in a report on Monday, December 9th. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and raised their price target for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Oppenheimer decreased their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, DA Davidson decreased their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Timken currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Timken Price Performance

Timken stock opened at $75.50 on Friday. The stock has a market cap of $5.29 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.38. The company has a fifty day simple moving average of $79.64 and a 200-day simple moving average of $81.50. The Timken Company has a 12-month low of $72.35 and a 12-month high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm posted $1.55 earnings per share. Timken’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts expect that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.80%. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Timken 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.