The Timken Company (NYSE:TKR) Shares Sold by Fmr LLC

FMR LLC cut its position in shares of The Timken Company (NYSE:TKR - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,767,933 shares of the industrial products company's stock after selling 48,727 shares during the period. FMR LLC owned approximately 6.80% of Timken worth $340,287,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew 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 buying an additional 711,979 shares during the last quarter. Norges Bank bought a new position in Timken in the 4th quarter valued at $42,748,000. American Century Companies Inc. increased its stake in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock worth $225,436,000 after purchasing an additional 320,354 shares during the period. Royce & Associates LP lifted its position in shares of Timken by 108.9% during the fourth quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company's stock worth $28,398,000 after purchasing an additional 207,439 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Timken during the fourth quarter valued at $14,460,000. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TKR has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Citigroup decreased their price target on shares of Timken from $95.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI increased their price objective on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Bank of America raised Timken from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group dropped 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. Six analysts have rated the stock with a hold rating and six have given 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 Stock Down 1.6 %

Timken stock traded down $1.01 during trading hours on Wednesday, reaching $61.04. The stock had a trading volume of 136,029 shares, compared to its average volume of 720,686. The Timken Company has a 52 week low of $56.20 and a 52 week high of $94.71. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 12.23, 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 business's 50 day moving average price is $73.79 and its 200-day moving average price is $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 the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Sell-side analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.23%. Timken's payout ratio is 27.25%.

Insider Activity

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 shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company's stock.

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.