Vanguard Group Inc. Acquires 26,973 Shares of The Timken Company (NYSE:TKR)

Vanguard Group Inc. boosted its position in The Timken Company (NYSE:TKR - Free Report) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,465,760 shares of the industrial products company's stock after acquiring an additional 26,973 shares during the quarter. Vanguard Group Inc. owned 9.22% of Timken worth $461,461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TKR. Fairway Wealth LLC acquired a new stake in Timken in the fourth quarter valued at about $29,000. Amundi lifted its holdings in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after acquiring an additional 174 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Timken in the 4th quarter valued at approximately $109,000. AlphaQuest LLC grew its holdings in shares of Timken by 25,983.3% during the 4th 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 last quarter. Finally, Blue Trust Inc. increased its position in Timken by 88.3% during the 4th quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock worth $134,000 after purchasing an additional 880 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of research analyst reports. Evercore ISI raised their target price on shares of Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. 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 note on Wednesday. Citigroup dropped their price target on shares of Timken from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 target price (down from $90.00) on shares of Timken in a research report on Wednesday. Finally, Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and upped their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.82.

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Timken Stock Down 5.6 %

Shares of NYSE:TKR traded down $3.53 during mid-day trading on Friday, hitting $59.88. 1,855,316 shares of the company traded hands, compared to its average volume of 533,465. The stock has a 50-day moving average price of $77.42 and a two-hundred day moving average price of $78.01. The Timken Company has a 12-month low of $58.37 and a 12-month high of $94.71. The stock has a market cap of $4.19 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.51 and a beta of 1.37. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

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 (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The company also recently announced 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 was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 2.27%. Timken's dividend payout ratio is currently 27.25%.

Insider Transactions at Timken

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

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.