Principal Financial Group Inc. Grows Stake in Timken Company (The) (NYSE:TKR)

Principal Financial Group Inc. increased its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 787,391 shares of the industrial products company's stock after buying an additional 3,831 shares during the quarter. Principal Financial Group Inc. owned 1.12% of Timken worth $56,590,000 at the end of the most recent quarter.

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

Timken Price Performance

Shares of TKR traded up $0.93 during midday trading on Thursday, reaching $78.61. The stock had a trading volume of 705,450 shares, compared to its average volume of 673,522. The company's 50-day moving average is $71.46 and its 200 day moving average is $72.51. Timken Company has a 12-month low of $56.20 and a 12-month high of $90.49. 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 company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Timken's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, equities analysts predict that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This is a boost from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 1.78%. Timken's dividend payout ratio is currently 30.17%.

Wall Street Analyst Weigh In

TKR has been the topic of a number of recent research reports. Loop Capital dropped their price target on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Citigroup upped their price target on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Oppenheimer dropped their price target on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Evercore ISI decreased their price objective on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, DA Davidson boosted their price objective on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $79.00.

Timken 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.