Timken Company (The) $TKR Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in Timken Company (The) (NYSE:TKR) by 38.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 210,910 shares of the industrial products company’s stock after purchasing an additional 58,541 shares during the period. Russell Investments Group Ltd. owned about 0.30% of Timken worth $15,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parvin Asset Management LLC purchased a new stake in shares of Timken in the 4th quarter valued at $66,000. UMB Bank n.a. grew its position in Timken by 400.0% in the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 800 shares in the last quarter. GAMMA Investing LLC increased its stake in Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 847 shares during the period. Alpine Bank Wealth Management purchased a new stake in Timken during the first quarter worth about $108,000. Finally, Blue Trust Inc. lifted its position in shares of Timken by 9.2% during the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TKR. Citigroup raised their price target on shares of Timken from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. Oppenheimer lowered their target price on Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Evercore ISI reduced their price target on Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, May 19th. Finally, DA Davidson boosted their price objective on Timken from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Timken currently has an average rating of “Hold” and an average price target of $79.90.

Timken Price Performance

Shares of NYSE TKR opened at $75.94 on Monday. The stock’s 50-day simple moving average is $75.57 and its 200-day simple moving average is $73.05. The firm has a market capitalization of $5.29 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.67 and a beta of 1.30. Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 3.13.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Timken had a net margin of 6.86% and a return on equity of 11.78%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.63 earnings per share. As a group, equities research analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.8%. Timken’s dividend payout ratio is 31.82%.

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.