The Timken Company (NYSE:TKR) Holdings Reduced by Granite Investment Partners LLC

Granite Investment Partners LLC cut its stake in The Timken Company (NYSE:TKR - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,153 shares of the industrial products company's stock after selling 5,057 shares during the period. Granite Investment Partners LLC owned approximately 0.07% of Timken worth $3,365,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TKR. Fairway Wealth LLC acquired a new position in Timken during the fourth quarter worth $29,000. Amundi boosted its position in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after buying an additional 174 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Timken during the 4th quarter valued at about $109,000. AlphaQuest LLC lifted its holdings in shares of Timken by 25,983.3% in the fourth 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 in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Timken by 88.3% in the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock valued at $134,000 after purchasing an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Stock Up 0.7 %

TKR traded up $0.42 during trading hours on Friday, reaching $61.39. 652,480 shares of the stock traded hands, compared to its average volume of 553,850. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $94.71. 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 company has a market cap of $4.30 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.51 and a beta of 1.28. The firm's fifty day simple moving average is $72.55 and its two-hundred day simple moving average is $76.04.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts forecast that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were paid a $0.34 dividend. 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 27.25%.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Bank of America upgraded 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 report on Tuesday, February 4th. Citigroup cut their target price 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. The Goldman Sachs Group lowered their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Loop Capital reduced their price objective on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday. Finally, Morgan Stanley lowered their target price on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Timken currently has an average rating of "Moderate Buy" and a consensus price target of $84.91.

About Timken

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.