The Timken Company (NYSE:TKR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,369 shares of the industrial products company's stock after selling 11,297 shares during the period. Russell Investments Group Ltd. owned about 0.22% of Timken worth $10,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock valued at $62,959,000 after purchasing an additional 711,979 shares in the last quarter. Norges Bank bought a new stake in Timken during the 4th quarter valued at $42,748,000. American Century Companies Inc. increased its holdings in shares of Timken by 11.3% in the 4th 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 period. Royce & Associates LP raised its position in shares of Timken by 108.9% in the 4th 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. purchased a new stake in shares of Timken during the 4th quarter worth $14,460,000. Institutional investors own 89.08% of the company's stock.

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Insider Buying and Selling at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares of the company's stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on TKR shares. Jefferies Financial Group reiterated a "hold" rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and increased their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup lowered their price objective on Timken from $95.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group reduced 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. Finally, Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Timken currently has an average rating of "Moderate Buy" and a consensus target price of $87.45.

Timken Stock Performance

NYSE:TKR traded up $0.13 during mid-day trading on Tuesday, hitting $62.02. The company's stock had a trading volume of 624,628 shares, compared to its average volume of 551,123. The business's fifty day moving average is $74.17 and its two-hundred day moving average is $76.56. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.51 and a beta of 1.28. 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 1 year low of $56.20 and a 1 year high of $94.71.

Timken (NYSE:TKR - Get Free Report) last released 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%. Analysts anticipate that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 2.19%. Timken's dividend payout ratio is currently 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.