Timken Company (The) (NYSE:TKR) Shares Acquired by US Bancorp DE

US Bancorp DE raised its holdings in shares of Timken Company (The) (NYSE:TKR) by 41.1% in the 1st quarter, HoldingsChannel reports. The fund owned 4,490 shares of the industrial products company’s stock after buying an additional 1,307 shares during the quarter. US Bancorp DE’s holdings in Timken were worth $323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wealthquest Corp acquired a new position in shares of Timken during the 1st quarter worth about $814,000. Natixis Advisors LLC boosted its position in shares of Timken by 24.7% during the 1st quarter. Natixis Advisors LLC now owns 41,994 shares of the industrial products company’s stock worth $3,018,000 after acquiring an additional 8,315 shares in the last quarter. Cozad Asset Management Inc. lifted its holdings in shares of Timken by 4.5% in the 1st quarter. Cozad Asset Management Inc. now owns 30,702 shares of the industrial products company’s stock valued at $2,207,000 after purchasing an additional 1,332 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Timken by 11.7% in the 1st quarter. Mackenzie Financial Corp now owns 7,975 shares of the industrial products company’s stock valued at $573,000 after purchasing an additional 835 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Timken by 23.5% in the 1st quarter. LPL Financial LLC now owns 19,133 shares of the industrial products company’s stock valued at $1,375,000 after purchasing an additional 3,640 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TKR has been the subject of several research reports. Oppenheimer reduced their target price on Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Morgan Stanley reduced their target price on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Loop Capital reduced their target price on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Evercore ISI reduced their target price on Timken from $102.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Finally, Citigroup boosted their target price on Timken from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $79.90.

Timken Stock Up 4.5%

TKR opened at $80.35 on Thursday. The business has a 50 day moving average price of $75.36 and a two-hundred day moving average price of $73.13. The company has a quick ratio of 1.72, a current ratio of 3.13 and a debt-to-equity ratio of 0.65. The company has a market cap of $5.60 billion, a PE ratio of 18.26, a P/E/G ratio of 1.69 and a beta of 1.30. Timken Company has a 52 week low of $56.20 and a 52 week high of $87.52.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. Timken had a return on equity of 11.78% and a net margin of 6.86%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 EPS. As a group, research analysts anticipate that Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 19th. Timken’s dividend payout ratio is 31.82%.

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.