QRG Capital Management Inc. Cuts Stake in Timken Company (The) (NYSE:TKR)

QRG Capital Management Inc. lowered its stake in Timken Company (The) (NYSE:TKR - Free Report) by 13.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,855 shares of the industrial products company's stock after selling 7,544 shares during the quarter. QRG Capital Management Inc. owned approximately 0.07% of Timken worth $3,367,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TKR. Victory Capital Management Inc. lifted its stake in Timken by 418.4% in the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock valued at $62,959,000 after buying an additional 711,979 shares in the last quarter. Norges Bank purchased a new stake in shares of Timken in the fourth quarter valued at $42,748,000. Millennium Management LLC lifted its position in shares of Timken by 1,421.1% in the fourth quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock valued at $32,737,000 after acquiring an additional 428,545 shares in the last quarter. American Century Companies Inc. lifted its holdings in Timken by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after purchasing an additional 320,354 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Timken by 193.8% in the 4th quarter. Voloridge Investment Management LLC now owns 364,498 shares of the industrial products company's stock valued at $26,014,000 after purchasing an additional 240,417 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Trading Up 0.0%

NYSE:TKR traded up $0.00 during trading hours on Friday, reaching $70.60. 616,989 shares of the company were exchanged, compared to its average volume of 576,060. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.15 and a quick ratio of 1.71. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.67 and a beta of 1.28. Timken Company has a 52-week low of $56.20 and a 52-week high of $90.49. The stock has a 50 day simple moving average of $68.32 and a 200 day simple moving average of $72.51.

Timken (NYSE:TKR - Get Free Report) last issued its 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). The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The company's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.77 earnings per share. As a group, analysts predict that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a $0.35 dividend. This is a positive change from Timken's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.98%. Timken's dividend payout ratio (DPR) is presently 30.17%.

Wall Street Analyst Weigh In

TKR has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group reduced their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Citigroup upped their price objective on shares of Timken from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Loop Capital reduced 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. Finally, Oppenheimer reduced 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Timken currently has an average rating of "Hold" and an average target price of $78.50.

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.