New England Research & Management Inc. Purchases 7,800 Shares of The Timken Company (NYSE:TKR)

New England Research & Management Inc. raised its stake in The Timken Company (NYSE:TKR - Free Report) by 126.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,975 shares of the industrial products company's stock after acquiring an additional 7,800 shares during the quarter. New England Research & Management Inc.'s holdings in Timken were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TKR. Fairway Wealth LLC acquired a new stake in Timken in the fourth quarter worth about $29,000. Amundi lifted its holdings 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 purchasing an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Timken during the 4th quarter valued at about $66,000. UMB Bank n.a. lifted its holdings in shares of Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Analysts Set New Price Targets

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

Timken Stock Up 1.4%

Timken stock traded up $1.01 during trading on Monday, hitting $71.69. 151,154 shares of the company were exchanged, compared to its average volume of 573,471. The company has a market capitalization of $5.02 billion, a P/E ratio of 14.36, a PEG ratio of 1.51 and a beta of 1.28. The business's 50 day moving average is $67.37 and its 200 day moving average is $72.71. The Timken Company has a 52 week low of $56.20 and a 52 week high of $90.49. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR - Get Free Report) last released its quarterly 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). The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The company's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 earnings per share. Analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were given a $0.35 dividend. 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 1.95%. The ex-dividend date was Tuesday, May 13th. Timken's dividend payout ratio is presently 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.