Timken Company (The) (NYSE:TKR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in Timken Company (The) (NYSE:TKR - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,755 shares of the industrial products company's stock after selling 107,710 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.62% of Timken worth $31,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Timken by 9.2% during the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock worth $147,000 after acquiring an additional 173 shares in the last quarter. Amundi grew its position in shares of Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 174 shares during the period. Ethic Inc. grew its position in shares of Timken by 2.8% during the 4th quarter. Ethic Inc. now owns 6,882 shares of the industrial products company's stock valued at $491,000 after acquiring an additional 188 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Timken by 2.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company's stock valued at $537,000 after acquiring an additional 188 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Timken by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock worth $2,523,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TKR. Loop Capital lowered their price objective on shares of 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 lifted their price target on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. The Goldman Sachs Group decreased 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 reaffirmed a "hold" rating and set a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Finally, Morgan Stanley lowered their target price on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Timken has a consensus rating of "Hold" and an average target price of $79.00.

Timken Trading Up 0.2%

Shares of NYSE TKR traded up $0.15 during mid-day trading on Friday, reaching $79.28. The company had a trading volume of 634,982 shares, compared to its average volume of 588,395. The business's 50-day moving average is $73.04 and its 200-day moving average is $72.82. The company has a current ratio of 3.15, a quick ratio of 1.71 and a debt-to-equity ratio of 0.68. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.88 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 posted its 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 net margin of 7.24% and a return on equity of 12.62%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the business posted $1.77 EPS. The company's revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts expect that Timken Company will post 5.62 earnings per share for the current 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 given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This is a positive change from Timken's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 1.77%. Timken's dividend payout ratio (DPR) is currently 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.