Goldman Sachs Group Inc. lessened its holdings in The Timken Company (NYSE: TKR – Get Rating) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 373,930 shares of the industrial products company stock after selling 43,971 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Timken were worth $ 25,910,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC boosted its stake in shares of Timken by 11.9% in the 4th quarter. Nuveen Asset Management LLC now owns 137,018 shares of the industrial products company stock valued at $ 9,494,000 after purchasing an additional 14,586 shares during the last quarter. Rockefeller Capital Management LP boosted its stake in shares of Timken by 91.2% in the 4th quarter. Rockefeller Capital Management LP now owns 204,020 shares of the industrial products company stock valued at $ 14,156,000 after purchasing an additional 97,341 shares during the last quarter. Kettle Hill Capital Management LLC bought a new position in shares of Timken in the 4th quarter valued at about $ 14,673,000. Gotham Asset Management LLC bought a new position in shares of Timken in the 4th quarter valued at about $ 640,000. Finally, Geode Capital Management LLC boosted its stake in shares of Timken by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 896,074 shares of the industrial products company stock valued at $ 62,088,000 after purchasing an additional 24,949 shares during the last quarter. 80.18% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on TKR shares. The Goldman Sachs Group reduced their price target on shares of Timken from $ 74.00 to $ 64.00 and set a “neutral” rating on the stock in a research note on Thursday, April 7th. StockNews.com raised shares of Timken from a “hold” rating to a “buy” rating in a research note on Tuesday, May 3rd. KeyCorp reduced their price objective on shares of Timken from $ 84.00 to $ 75.00 in a research note on Tuesday, May 3rd. Morgan Stanley reduced their price objective on shares of Timken from $ 76.00 to $ 72.00 and set an “equal weight” rating on the stock in a research note on Monday, April 18th. Finally, Oppenheimer started coverage on shares of Timken in a research note on Wednesday, April 13th. They set an “outperform” rating and a $ 75.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Timken currently has an average rating of “Buy” and an average target price of $ 79.11.
In other news, CFO Philip D. Fracassa sold 9,511 shares of Timken stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $ 59.94, for a total value of $ 570,089.34. Following the sale, the chief financial officer now directly owns 85,659 shares in the company, valued at $ 5,134,400.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacqueline F. Woods sold 2,860 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $ 59.89, for a total transaction of $ 171,285.40. Following the transaction, the director now owns 16,568 shares in the company, valued at $ 992,257.52. The disclosure for this sale can be found here. 10.79% of the stock is owned by company insiders.
Shares of TKR stock opened at $ 59.71 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 2.94. The company has a market capitalization of $ 4.43 billion, a P / E ratio of 12.24, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55. The company 50 day moving average price is $ 59.41 and its two-hundred day moving average price is $ 64.18. The Timken Company has a 52 week low of $ 55.32 and a 52 week high of $ 86.18.
Timken (NYSE: TKR – Get Rating) last announced its earnings results on Monday, May 2nd. The industrial products company reported $ 1.61 EPS for the quarter, topping the consensus estimate of $ 1.15 by $ 0.46. Timken had a net margin of 8.84% and a return on equity of 15.97%. The firm had revenue of $ 1.12 billion for the quarter, compared to the consensus estimate of $ 1.11 billion. During the same period last year, the company posted $ 1.38 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts forecast that The Timken Company will post 5.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Stockholders of record on Monday, May 16th were issued a $ 0.31 dividend. The ex-dividend date of this dividend was Friday, May 13th. This is an increase from Timken’s previous quarterly dividend of $ 0.30. This represents a $ 1.24 dividend on an annualized basis and a dividend yield of 2.08%. Timken’s dividend payout ratio (DPR) is 25.41%.
About Timken: (Get Rating)
The Timken Company designs, manufactures, and manages engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs ) and end-users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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