The Timken Company (NYSE:TKR) Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 611,513 shares of the industrial products company's stock after buying an additional 98,827 shares during the period. Northern Trust Corp owned about 0.87% of Timken worth $43,644,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Fairway Wealth LLC purchased a new position in Timken in the fourth quarter worth $29,000. Amundi increased its holdings in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 174 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Timken during the fourth quarter worth about $109,000. AlphaQuest LLC grew its position in Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock worth $112,000 after buying an additional 1,559 shares during the period. Finally, Blue Trust Inc. increased its holdings in Timken by 88.3% in the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock valued at $134,000 after buying an additional 880 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TKR shares. Oppenheimer lowered their price target on Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and raised their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Evercore ISI boosted their price objective on shares of Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Loop Capital cut their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group dropped their price target on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Timken currently has a consensus rating of "Hold" and a consensus target price of $80.20.

Timken Stock Up 0.3 %

NYSE:TKR traded up $0.19 during trading hours on Friday, hitting $68.62. The stock had a trading volume of 504,627 shares, compared to its average volume of 560,269. The business has a 50 day simple moving average of $67.77 and a two-hundred day simple moving average of $73.92. The Timken Company has a 1-year low of $56.20 and a 1-year high of $93.66. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company has a market cap of $4.80 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.

Timken (NYSE:TKR - Get Free Report) last released 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). The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. The business's quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.77 EPS. Analysts predict that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, May 13th. This is an increase from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 2.04%. Timken's payout ratio is currently 30.17%.

About Timken

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.