Timken Company (The) (NYSE:TKR) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its holdings in Timken Company by 3.0%, selling 12,700 shares and now owning approximately 0.58% of the company worth $29.2 million.
• Several hedge funds have increased their positions in Timken, with Victory Capital Management Inc. boosting its stake by 108.8% during the first quarter.
• Analysts have lowered their price targets for Timken, with Morgan Stanley decreasing it from $94.00 to $88.00, while the stock currently has a consensus rating of "Hold" and an average target price of $79.90.

LSV Asset Management reduced its position in shares of Timken Company (The) (NYSE:TKR - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 406,692 shares of the industrial products company's stock after selling 12,700 shares during the period. LSV Asset Management owned about 0.58% of Timken worth $29,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TKR. US Bancorp DE boosted its stake in Timken by 41.1% during the first quarter. US Bancorp DE now owns 4,490 shares of the industrial products company's stock valued at $323,000 after buying an additional 1,307 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of Timken during the 1st quarter worth about $814,000. Natixis Advisors LLC raised its stake 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 purchasing an additional 8,315 shares in the last quarter. Cozad Asset Management Inc. raised its stake in shares of Timken by 4.5% during the 1st quarter. Cozad Asset Management Inc. now owns 30,702 shares of the industrial products company's stock worth $2,207,000 after purchasing an additional 1,332 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Timken by 11.7% during the 1st quarter. Mackenzie Financial Corp now owns 7,975 shares of the industrial products company's stock worth $573,000 after purchasing an additional 835 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Price Performance

Shares of Timken stock traded up $0.75 during trading hours on Tuesday, reaching $74.69. The company's stock had a trading volume of 606,866 shares, compared to its average volume of 739,181. The stock has a market cap of $5.20 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.62 and a beta of 1.30. Timken Company has a one year low of $56.20 and a one year high of $87.52. The firm has a 50 day moving average price of $74.58 and a 200-day moving average price of $73.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.08. Timken had a net margin of 6.86% and a return on equity of 11.78%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter last year, the company posted $1.63 earnings per share. The business's quarterly revenue was down .8% on a year-over-year basis. On average, analysts predict that Timken Company will post 5.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Evercore ISI decreased their price objective on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. DA Davidson lifted their price objective on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Citigroup lifted their price objective on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Oppenheimer decreased their price target on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital decreased their price target on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Timken presently has a consensus rating of "Hold" and a consensus price target of $79.90.

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.