Wealthquest Corp Acquires Shares of 11,322 Timken Company (The) (NYSE:TKR)

Wealthquest Corp acquired a new stake in shares of Timken Company (The) (NYSE:TKR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,322 shares of the industrial products company's stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Timken by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock valued at $461,461,000 after buying an additional 26,973 shares during the last quarter. American Century Companies Inc. raised its holdings in Timken by 11.3% during the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock worth $225,436,000 after purchasing an additional 320,354 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Timken by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company's stock worth $159,403,000 after purchasing an additional 124,676 shares during the last quarter. Earnest Partners LLC raised its holdings in Timken by 0.3% during the 4th quarter. Earnest Partners LLC now owns 1,295,126 shares of the industrial products company's stock worth $92,433,000 after purchasing an additional 3,594 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Timken by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,285,013 shares of the industrial products company's stock worth $91,711,000 after purchasing an additional 63,485 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TKR. The Goldman Sachs Group dropped their price objective on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Loop Capital reduced their price objective on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Oppenheimer lowered their target price 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. Citigroup increased their target price on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, DA Davidson boosted their price target on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $79.00.

Timken Price Performance

Shares of TKR opened at $73.69 on Wednesday. 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 stock has a 50 day simple moving average of $68.74 and a 200 day simple moving average of $72.45. Timken Company has a 52-week low of $56.20 and a 52-week high of $90.49. The firm has a market capitalization of $5.16 billion, a PE ratio of 15.88, a P/E/G ratio of 1.69 and a beta of 1.28.

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

Timken Increases Dividend

The firm 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. This is a boost 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 1.90%. Timken's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.