Principal Financial Group Inc. Purchases 3,831 Shares of Timken Company (The) (NYSE:TKR)

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

A number of other hedge funds have also recently added to or reduced their stakes in TKR. Charles Schwab Investment Management Inc. increased its stake in Timken by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,147 shares of the industrial products company's stock worth $46,615,000 after acquiring an additional 3,195 shares during the period. Atria Investments Inc increased its stake in Timken by 23.3% during the 4th quarter. Atria Investments Inc now owns 10,866 shares of the industrial products company's stock worth $776,000 after acquiring an additional 2,056 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Timken in the 4th quarter valued at $3,101,000. Raymond James Financial Inc. bought a new position in shares of Timken in the 4th quarter valued at $14,460,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Timken in the 4th quarter valued at $485,000. Institutional investors own 89.08% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TKR. The Goldman Sachs Group decreased their price target on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Citigroup lifted their price target on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Morgan Stanley decreased their price target on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Loop Capital reduced 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, Jefferies Financial Group restated a "hold" rating and set a $70.00 price objective (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $79.00.

Timken Trading Up 1.2%

Shares of NYSE:TKR traded up $0.90 during midday trading on Tuesday, reaching $76.42. The company's stock had a trading volume of 13,330 shares, compared to its average volume of 582,480. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.82 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The firm has a 50 day moving average price of $70.96 and a two-hundred day moving average price of $72.44. Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $90.49.

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

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from Timken's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. Timken's payout ratio is currently 30.17%.

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.