The Timken Company (NYSE:TKR) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in The Timken Company (NYSE:TKR - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 824,333 shares of the industrial products company's stock after selling 20,864 shares during the period. Principal Financial Group Inc. owned approximately 1.17% of Timken worth $66,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Timken in the 4th quarter worth $12,398,000. WCM Investment Management LLC increased its position in Timken by 8.7% during the fourth quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company's stock worth $16,443,000 after purchasing an additional 16,322 shares during the last quarter. Duality Advisers LP raised its stake in Timken by 226.3% during the fourth quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company's stock worth $2,227,000 after purchasing an additional 19,274 shares during the period. Foundry Partners LLC boosted its holdings in Timken by 5.6% in the 4th quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company's stock valued at $6,999,000 after purchasing an additional 4,598 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Timken by 64.5% in the 3rd quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company's stock valued at $883,000 after buying an additional 4,712 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Up 0.8 %

Shares of NYSE TKR traded up $0.71 during midday trading on Wednesday, hitting $93.10. The company's stock had a trading volume of 351,623 shares, compared to its average volume of 499,250. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The business's fifty day simple moving average is $87.12 and its two-hundred day simple moving average is $81.13. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.50 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 earnings per share. On average, equities analysts predict that The Timken Company will post 6.21 EPS for the current year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. This is a boost from Timken's previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, May 13th. Timken's dividend payout ratio is currently 25.90%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Loop Capital lifted their price target on shares of Timken from $78.00 to $87.00 and gave the company a "hold" rating in a research report on Wednesday, May 1st. Oppenheimer reiterated an "outperform" rating and set a $100.00 price target (up from $97.00) on shares of Timken in a report on Thursday, March 21st. DA Davidson began coverage on shares of Timken in a report on Tuesday, January 23rd. They issued a "buy" rating and a $92.00 price objective on the stock. StockNews.com cut shares of Timken from a "buy" rating to a "hold" rating in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus lifted their price target on shares of Timken from $92.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $87.09.

Insider Activity

In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now directly owns 84,995 shares in the company, valued at $7,590,053.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Timken news, CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction on Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the transaction, the chief financial officer now directly owns 105,541 shares in the company, valued at $9,473,360.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares of the company's stock, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,006 shares of company stock worth $5,269,636. 8.70% of the stock is currently owned by insiders.

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.