The Timken Company (NYSE:TKR) Shares Sold by CenterBook Partners LP

CenterBook Partners LP trimmed its holdings in The Timken Company (NYSE:TKR - Free Report) by 21.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,873 shares of the industrial products company's stock after selling 5,334 shares during the period. CenterBook Partners LP's holdings in Timken were worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Timken by 418.4% in 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 during the period. Norges Bank purchased a new position in Timken in the fourth quarter worth about $42,748,000. American Century Companies Inc. increased its holdings in Timken by 11.3% during 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 buying an additional 320,354 shares during the last quarter. Royce & Associates LP lifted its position in shares of Timken by 108.9% during the 4th quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company's stock valued at $28,398,000 after buying an additional 207,439 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Timken in the fourth quarter worth about $14,460,000. 89.08% of the stock is currently owned by institutional investors.

Insider Transactions at Timken

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 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 in the company, valued at $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.70% of the stock is owned by corporate insiders.

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Wall Street Analyst Weigh In

TKR has been the subject of a number of research analyst reports. 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. Jefferies Financial Group reiterated a "hold" rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Morgan Stanley boosted their price target on shares of Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and raised their target price for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, Evercore ISI increased their target price on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $87.45.

Timken Trading Down 1.5 %

Shares of TKR traded down $0.90 during trading hours on Wednesday, reaching $61.15. The stock had a trading volume of 170,628 shares, compared to its average volume of 550,533. The company has a market cap of $4.28 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The Timken Company has a 52 week low of $56.20 and a 52 week high of $94.71. The firm has a 50-day moving average of $73.79 and a 200 day moving average of $76.46.

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

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued 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 2.22%. Timken's dividend payout ratio (DPR) is presently 27.25%.

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.