Gotham Asset Management LLC Lowers Holdings in The Timken Company (NYSE:TKR)

Gotham Asset Management LLC reduced its stake in The Timken Company (NYSE:TKR - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 101,125 shares of the industrial products company's stock after selling 12,327 shares during the quarter. Gotham Asset Management LLC owned approximately 0.14% of Timken worth $7,217,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company's stock worth $141,000 after purchasing an additional 158 shares during the period. Amundi raised its holdings in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after purchasing an additional 174 shares during the period. Ethic Inc. raised its holdings in Timken by 2.8% in the 4th quarter. Ethic Inc. now owns 6,882 shares of the industrial products company's stock worth $491,000 after purchasing an additional 188 shares during the period. Sheets Smith Wealth Management raised its holdings in Timken by 3.4% in the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock worth $418,000 after purchasing an additional 190 shares during the period. Finally, Principal Securities Inc. increased its stake in Timken by 7.8% in the 4th quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company's stock worth $204,000 after buying an additional 207 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

Timken Trading Up 1.9%

NYSE TKR traded up $1.36 during trading on Friday, hitting $73.85. The stock had a trading volume of 616,409 shares, compared to its average volume of 566,054. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.51 and a beta of 1.30. The Timken Company has a one year low of $56.20 and a one year high of $92.34. The stock has a 50 day simple moving average of $67.49 and a 200 day simple moving average of $73.52.

Timken (NYSE:TKR - Get Free Report) last announced 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). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS. Sell-side analysts predict that The Timken Company will post 5.62 earnings per share for the current 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 paid a $0.35 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.90%. This is an increase from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio (DPR) is presently 30.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TKR shares. The Goldman Sachs Group cut their price objective on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Evercore ISI raised their price objective on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup lifted their price target on Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley dropped their price target on Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $80.20.

Timken Company 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.