Occudo Quantitative Strategies LP Sells 23,025 Shares of The Timken Company (NYSE:TKR)

Occudo Quantitative Strategies LP cut its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 85.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,845 shares of the industrial products company's stock after selling 23,025 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Timken were worth $274,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new position in Timken in the 4th quarter worth $29,000. Amundi grew its stake in shares of Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after buying an additional 174 shares during the last quarter. Parvin Asset Management LLC purchased a new position in shares of Timken in the fourth quarter worth about $66,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Timken in the 4th quarter valued at about $109,000. Finally, AlphaQuest LLC boosted its holdings in Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock valued at $112,000 after acquiring an additional 1,559 shares during the period. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on TKR shares. DA Davidson boosted their price objective on Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Evercore ISI decreased their target price on shares of Timken from $102.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday. Citigroup increased their price target on shares of Timken from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group cut their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Oppenheimer dropped their target price on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $78.50.

Timken Trading Down 0.4%

Shares of NYSE:TKR traded down $0.30 on Thursday, hitting $69.23. The company had a trading volume of 207,620 shares, compared to its average volume of 567,571. The firm's 50-day simple moving average is $67.38 and its two-hundred day simple moving average is $73.42. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.51 and a beta of 1.30. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The Timken Company has a 1 year low of $56.20 and a 1 year high of $91.77.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.03). Timken had a return on equity of 13.93% and a net margin of 7.71%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the business earned $1.77 earnings per share. The business's quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Increases Dividend

The company 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 $0.35 dividend. This is an increase from Timken's previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. Timken's dividend payout ratio is 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.