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

Harbor Capital Advisors Inc. raised its position in The Timken Company (NYSE:TKR - Free Report) by 44.1% in the 1st quarter, according to the company in its most recent filing with the Securities & 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 about 0.12% of Timken worth $6,279,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TKR. Fairway Wealth LLC bought a new stake in shares of Timken in the 4th quarter valued at approximately $29,000. Amundi grew its stake in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 174 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Timken in the 4th quarter valued at approximately $66,000. UMB Bank n.a. grew its position in Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock worth $72,000 after acquiring an additional 800 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Timken during the 4th quarter worth approximately $109,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on TKR shares. The Goldman Sachs Group lowered their target price on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Oppenheimer lowered their target price on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Loop Capital decreased their target price on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. DA Davidson upped their target price on Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Citigroup upped their price target on shares of Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $78.50.

Timken Price Performance

Shares of Timken stock traded down $0.22 during trading on Thursday, reaching $72.02. 321,529 shares of the stock traded hands, compared to its average volume of 575,377. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.51 and a beta of 1.28. The business has a fifty day simple moving average of $67.10 and a two-hundred day simple moving average of $72.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The 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 announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.03). Timken had a net margin of 7.71% and a return on equity of 13.93%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The business's quarterly revenue was down 4.2% on a year-over-year basis. Sell-side analysts expect that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This is an increase from Timken's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. Timken's payout ratio 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.