BNP Paribas Financial Markets Lowers Stock Position in The Timken Company (NYSE:TKR)

BNP Paribas Financial Markets lowered its position in shares of The Timken Company (NYSE:TKR - Free Report) by 64.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,550 shares of the industrial products company's stock after selling 31,368 shares during the quarter. BNP Paribas Financial Markets' holdings in Timken were worth $1,253,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in shares of Timken in the 4th quarter worth about $29,000. Amundi raised its position in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after purchasing an additional 174 shares during the last quarter. Parvin Asset Management LLC purchased a new position in shares of Timken in the 4th quarter worth about $66,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Timken in the 4th quarter worth about $109,000. Finally, AlphaQuest LLC raised its position in shares of Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock worth $112,000 after purchasing an additional 1,559 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analysts Set New Price Targets

TKR has been the subject of several research analyst reports. Evercore ISI reduced their price objective on Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a report on Monday. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Loop Capital reduced their price objective on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. DA Davidson lifted their price objective on Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price objective on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Timken has a consensus rating of "Hold" and an average price target of $78.50.

Timken Stock Down 0.7%

TKR stock opened at $73.20 on Tuesday. The Timken Company has a twelve month low of $56.20 and a twelve month high of $92.34. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.12 billion, a P/E ratio of 14.67, a PEG ratio of 1.51 and a beta of 1.30. The business's 50-day moving average price is $67.49 and its 200-day moving average price is $73.45.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). Timken had a return on equity of 13.93% and a net margin of 7.71%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the firm posted $1.77 earnings per share. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.91%. This is a boost from Timken's previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, May 13th. Timken's dividend payout ratio is 30.17%.

About Timken

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.

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