Voya Investment Management LLC Sells 16,008 Shares of The Timken Company (NYSE:TKR)

Voya Investment Management LLC trimmed its position in shares of The Timken Company (NYSE:TKR - Free Report) by 42.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TKR. Victory Capital Management Inc. raised its stake in shares of Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock worth $62,959,000 after purchasing an additional 711,979 shares in the last quarter. Norges Bank bought a new position in Timken during the fourth quarter valued at approximately $42,748,000. American Century Companies Inc. lifted its stake in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after acquiring an additional 320,354 shares during the last quarter. Royce & Associates LP grew its position in Timken by 108.9% in the fourth quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company's stock worth $28,398,000 after acquiring an additional 207,439 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Timken during the 4th quarter worth $14,460,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TKR. Oppenheimer reduced their price objective on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group decreased their price target on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Loop Capital cut their price objective on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley reduced their target price on Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Evercore ISI increased their price target on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $80.20.

Timken Stock Performance

TKR stock traded up $0.19 on Friday, reaching $68.62. 504,627 shares of the company were exchanged, compared to its average volume of 560,269. The firm has a market capitalization of $4.80 billion, a PE ratio of 13.75, a PEG ratio of 1.51 and a beta of 1.30. The Timken Company has a 12 month low of $56.20 and a 12 month high of $93.66. The stock's fifty day moving average price is $67.77 and its 200 day moving average price is $74.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

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 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 the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts anticipate that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Tuesday, May 13th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from Timken's previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, May 13th. Timken's dividend payout ratio is presently 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.