Voya Investment Management LLC Cuts Stock Position in The Timken Company (NYSE:TKR)

Voya Investment Management LLC trimmed its position in The Timken Company (NYSE:TKR - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,979 shares of the industrial products company's stock after selling 16,008 shares during the period. Voya Investment Management LLC's holdings in Timken were worth $1,569,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in shares of Timken by 79.4% in the fourth quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock valued at $1,915,000 after acquiring an additional 11,876 shares in the last quarter. Barclays PLC lifted its holdings in shares of Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock valued at $7,307,000 after buying an additional 59,716 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Timken by 29.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company's stock valued at $4,327,000 after buying an additional 13,697 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Timken during the fourth quarter worth $14,460,000. Finally, Janney Montgomery Scott LLC grew 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 period. 89.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Loop Capital dropped their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. DA Davidson reaffirmed a "neutral" rating and issued a $66.00 price objective (down from $97.00) on shares of Timken in a research note on Monday, April 21st. The Goldman Sachs Group decreased their target price on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Citigroup dropped their price target on Timken from $95.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $70.00 price objective (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $79.20.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares of the company's stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.37% of the company's stock.

Timken Price Performance

Shares of NYSE:TKR opened at $66.58 on Monday. The business has a fifty day simple moving average of $68.90 and a 200-day simple moving average of $74.55. The Timken Company has a 52 week low of $56.20 and a 52 week high of $93.66. The company has a market cap of $4.66 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

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 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 for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the company earned $1.77 earnings per share. The company's revenue was down 4.2% on a year-over-year basis. Equities research analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from Timken's previous quarterly dividend of $0.34. Timken's dividend payout ratio is presently 27.25%.

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.

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