Federated Hermes Inc. Has $17.53 Million Holdings in The Timken Company (NYSE:TKR)

Federated Hermes Inc. lifted its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 245,668 shares of the industrial products company's stock after purchasing an additional 28,246 shares during the quarter. Federated Hermes Inc. owned about 0.35% of Timken worth $17,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of Timken in the fourth quarter worth about $29,000. Amundi boosted 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 acquiring an additional 174 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in Timken in the fourth quarter valued at approximately $109,000. AlphaQuest LLC raised its stake in shares of Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock valued at $112,000 after purchasing an additional 1,559 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Timken by 88.3% in the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock valued at $134,000 after purchasing an additional 880 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Citigroup dropped their target price on shares of Timken from $95.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 target price (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Morgan Stanley increased their price target on Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Finally, Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Timken presently has a consensus rating of "Moderate Buy" and an average price target of $87.45.

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Timken Trading Up 0.6 %

Shares of NYSE TKR traded up $0.38 during mid-day trading on Tuesday, hitting $62.27. The company's stock had a trading volume of 161,707 shares, compared to its average volume of 549,366. 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 stock has a market cap of $4.36 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company's fifty day simple moving average is $74.17 and its 200-day simple moving average is $76.56. The Timken Company has a one year low of $56.20 and a one year high of $94.71.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. On average, sell-side analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken's dividend payout ratio (DPR) is presently 27.25%.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares of the company's stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.70% of the stock is currently owned by company insiders.

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.