The Timken Company (NYSE:TKR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in shares of The Timken Company (NYSE:TKR - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,173 shares of the industrial products company's stock after selling 6,814 shares during the period. Legal & General Group Plc owned about 0.19% of Timken worth $9,576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TKR. First Horizon Advisors Inc. lifted its stake in Timken by 8.7% during the fourth 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 last quarter. Amundi grew its position in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after buying an additional 174 shares during the last quarter. Sheets Smith Wealth Management raised its stake in Timken by 3.4% during the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock worth $418,000 after acquiring an additional 190 shares in the last quarter. Principal Securities Inc. lifted its position in Timken by 7.8% in the fourth quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company's stock valued at $204,000 after acquiring an additional 207 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in Timken by 3.8% in the third quarter. MML Investors Services LLC now owns 5,790 shares of the industrial products company's stock valued at $488,000 after acquiring an additional 212 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company's 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 completion of the transaction, the chief financial officer now owns 90,541 shares of the company's stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.70% of the company's stock.

Timken Price Performance

NYSE:TKR traded up $2.99 during trading hours on Wednesday, reaching $64.66. 85,119 shares of the company traded hands, compared to its average volume of 713,015. The Timken Company has a 1-year low of $56.20 and a 1-year high of $94.71. The stock has a market cap of $4.53 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.51 and a beta of 1.28. The firm's 50-day moving average is $71.68 and its 200-day moving average is $75.69. 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, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Equities research analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.10%. The ex-dividend date was Tuesday, February 25th. Timken's dividend payout ratio (DPR) is 27.25%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. The Goldman Sachs Group cut their price target 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 target price on Timken from $95.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley dropped their price target on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Loop Capital reduced their price target on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Timken currently has an average rating of "Hold" and an average price target of $81.91.

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.