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

Key Points

• Wealthquest Corp purchased a new stake of 11,322 shares in Timken Company, valued at approximately $814,000 in Q1.
• Timken has received various price target adjustments from analysts, with the average target price now at $79.90.
• The company's latest earnings report shows a net margin of 6.86% and a revenue of $1.17 billion, which is slightly down year-over-year.

Wealthquest Corp purchased a new stake in Timken Company (The) (NYSE:TKR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,322 shares of the industrial products company's stock, valued at approximately $814,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Timken in the 4th quarter valued at about $42,748,000. Pictet Asset Management Holding SA lifted its stake in shares of Timken by 15.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,292 shares of the industrial products company's stock valued at $735,000 after purchasing an additional 1,354 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Timken in the 4th quarter valued at about $335,000. World Investment Advisors lifted its stake in shares of Timken by 9.4% in the 4th quarter. World Investment Advisors now owns 5,313 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 458 shares in the last quarter. Finally, Foundry Partners LLC lifted its stake in shares of Timken by 6.5% in the 4th quarter. Foundry Partners LLC now owns 52,711 shares of the industrial products company's stock valued at $3,762,000 after purchasing an additional 3,197 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. DA Davidson lifted their price objective on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Oppenheimer reduced their price objective on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Evercore ISI reduced their price target on Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Finally, 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 report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $79.90.

Timken Stock Performance

Shares of TKR opened at $76.15 on Friday. The business's 50 day moving average is $74.37 and its two-hundred day moving average is $73.23. Timken Company has a 52-week low of $56.20 and a 52-week high of $90.49. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.63 and a beta of 1.27. The company has a quick ratio of 1.71, a current ratio of 3.13 and a debt-to-equity ratio of 0.65.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.08. Timken had a return on equity of 11.78% and a net margin of 6.86%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $1.63 EPS. Timken's quarterly revenue was down .8% on a year-over-year basis. Analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

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.

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