Invesco Ltd. Trims Holdings in The Timken Company (NYSE:TKR)

Invesco Ltd. lowered its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 53.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,197 shares of the industrial products company's stock after selling 213,243 shares during the period. Invesco Ltd. owned about 0.26% of Timken worth $13,075,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Barclays PLC raised its holdings in Timken by 221.6% during the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after purchasing an additional 59,716 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company's stock worth $4,327,000 after buying an additional 13,697 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Timken during the fourth quarter worth approximately $14,460,000. Janney Montgomery Scott LLC lifted its holdings in Timken by 25.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock valued at $7,644,000 after buying an additional 22,003 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Timken in the fourth quarter valued at approximately $574,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of a number of analyst reports. DA Davidson restated a "neutral" rating and set a $66.00 price objective (down previously from $97.00) on shares of Timken in a report on Monday. Bank of America raised Timken from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reiterated a "hold" rating and set a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. The Goldman Sachs Group lowered their price target on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Loop Capital dropped their price target on Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Seven investment 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 presently has a consensus rating of "Hold" and an average target price of $81.91.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business'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 value of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.70% of the company's stock.

Timken Stock Down 0.3 %

TKR traded down $0.21 during midday trading on Friday, reaching $64.78. The company's stock had a trading volume of 188,912 shares, compared to its average volume of 555,015. The stock's 50-day moving average is $70.91 and its 200-day moving average is $75.47. The Timken Company has a 1 year low of $56.20 and a 1 year high of $94.71. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.51 and a beta of 1.28. 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 released its quarterly earnings results 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 return on equity of 13.93% and a net margin of 7.71%. As a group, research analysts expect that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Tuesday, February 25th. Timken's payout ratio is 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.