The Timken Company (NYSE:TKR) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its position in shares of The Timken Company (NYSE:TKR - Free Report) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,125 shares of the industrial products company's stock after selling 12,327 shares during the period. Gotham Asset Management LLC owned 0.14% of Timken worth $7,217,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of Timken by 79.4% during the 4th quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock worth $1,915,000 after purchasing an additional 11,876 shares during the last quarter. Barclays PLC boosted its stake in shares of Timken by 221.6% during the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after purchasing an additional 59,716 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Timken during the 4th quarter worth about $14,460,000. Janney Montgomery Scott LLC boosted its stake in shares of Timken by 25.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock worth $7,644,000 after purchasing an additional 22,003 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Timken during the 4th quarter worth about $574,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TKR shares. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Loop Capital decreased their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. DA Davidson raised their target price on shares of Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Evercore ISI raised their target price 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. Finally, Citigroup raised their target price on shares of Timken from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Timken has a consensus rating of "Hold" and an average target price of $80.20.

Timken Trading Up 1.9%

TKR stock traded up $1.36 during midday trading on Friday, reaching $73.85. 616,409 shares of the company's stock traded hands, compared to its average volume of 564,305. The company has a market capitalization of $5.17 billion, a P/E ratio of 14.80, a PEG ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $93.04. The business has a 50-day moving average price of $67.51 and a two-hundred day moving average price of $73.73.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 7.71% and a return on equity of 13.93%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 EPS. Equities research analysts forecast that The Timken Company will post 5.62 EPS for the current fiscal 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, May 13th. This is an increase from Timken's previous quarterly dividend of $0.34. 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.