Timken Company (The) (NYSE:TKR) Shares Sold by CenterBook Partners LP

CenterBook Partners LP lessened its stake in Timken Company (The) (NYSE:TKR - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,267 shares of the industrial products company's stock after selling 5,606 shares during the period. CenterBook Partners LP's holdings in Timken were worth $1,025,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in shares of Timken by 108.8% in the first quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock valued at $132,372,000 after purchasing an additional 959,672 shares in the last quarter. Norges Bank bought a new stake in Timken during the 4th quarter worth about $42,748,000. Millennium Management LLC raised its holdings in shares of Timken by 1,421.1% in the 4th quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock valued at $32,737,000 after purchasing an additional 428,545 shares during the period. American Century Companies Inc. grew its stake in Timken by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after buying an additional 320,354 shares during the last quarter. Finally, Cooke & Bieler LP acquired a new position in Timken in the 1st quarter valued at about $18,041,000. Institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Evercore ISI dropped their price objective on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. DA Davidson raised their price target on shares of Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. The Goldman Sachs Group reduced their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Jefferies Financial Group reissued a "hold" rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, Morgan Stanley dropped their price target on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Timken has a consensus rating of "Hold" and an average target price of $79.00.

Timken Trading Up 0.2%

NYSE TKR traded up $0.15 on Friday, hitting $79.28. 634,982 shares of the stock were exchanged, compared to its average volume of 588,395. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The stock has a fifty day moving average price of $73.04 and a two-hundred day moving average price of $72.84. The firm has a market capitalization of $5.55 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.89 and a beta of 1.27. Timken Company has a 52-week low of $56.20 and a 52-week high of $90.49.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The firm's revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. Research analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.35 per share. This is a boost from Timken's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. Timken's dividend payout ratio (DPR) is presently 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.