Harbor Capital Advisors Inc. Grows Position in The Timken Company (NYSE:TKR)

Harbor Capital Advisors Inc. increased its stake in The Timken Company (NYSE:TKR - Free Report) by 44.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,364 shares of the industrial products company's stock after acquiring an additional 26,739 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.12% of Timken worth $6,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Timken by 1.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 356,589 shares of the industrial products company's stock valued at $24,908,000 after acquiring an additional 5,221 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Timken by 88.3% in the 4th quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock valued at $134,000 after buying an additional 880 shares in the last quarter. Principal Securities Inc. increased its position in shares of Timken by 7.8% during the fourth quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company's stock worth $204,000 after purchasing an additional 207 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Timken by 22.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 28,560 shares of the industrial products company's stock worth $2,038,000 after acquiring an additional 5,163 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Timken by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company's stock worth $55,928,000 after purchasing an additional 30,411 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. 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 research note on Wednesday, April 2nd. Loop Capital reduced their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Citigroup raised their price target on shares of Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. DA Davidson boosted their price objective on Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Evercore ISI cut their price target on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, May 19th. 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 presently has an average rating of "Hold" and a consensus price target of $78.50.

Timken Stock Down 2.0%

Shares of TKR traded down $1.43 during mid-day trading on Friday, hitting $70.63. 351,442 shares of the company's stock were exchanged, compared to its average volume of 575,148. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.51 and a beta of 1.28. The stock's 50-day moving average is $67.37 and its 200-day moving average is $72.74. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $90.49.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). Timken had a return on equity of 13.93% and a net margin of 7.71%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the company earned $1.77 EPS. Timken's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.98%. This is an increase from Timken's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. Timken's payout ratio is 30.17%.

Timken Company 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.