Quantinno Capital Management LP Sells 12,704 Shares of The Timken Company (NYSE:TKR)

Quantinno Capital Management LP trimmed its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,244 shares of the industrial products company's stock after selling 12,704 shares during the quarter. Quantinno Capital Management LP owned 0.06% of Timken worth $2,872,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Nomura Holdings Inc. bought a new position in shares of Timken during the 4th quarter worth approximately $604,000. Numerai GP LLC bought a new position in shares of Timken during the 4th quarter worth approximately $2,218,000. Millennium Management LLC grew its stake in shares of Timken by 1,421.1% during the 4th quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock worth $32,737,000 after acquiring an additional 428,545 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Timken during the 4th quarter worth approximately $1,606,000. Finally, Hudson Bay Capital Management LP grew its stake in shares of Timken by 130.6% during the 4th quarter. Hudson Bay Capital Management LP now owns 130,500 shares of the industrial products company's stock worth $9,314,000 after acquiring an additional 73,916 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TKR has been the subject of several research reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Oppenheimer decreased their price target on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Morgan Stanley decreased their price target on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Loop Capital decreased their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Finally, Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and raised their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.50.

Timken Trading Down 0.7%

Shares of Timken stock opened at $73.20 on Tuesday. The business has a fifty day simple moving average of $67.49 and a two-hundred day simple moving average of $73.45. The Timken Company has a 1 year low of $56.20 and a 1 year high of $92.34. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business earned $1.77 EPS. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. Research analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.35 per share. This is an increase from Timken's previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.91%. Timken's dividend payout ratio (DPR) is currently 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.

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