Sumitomo Mitsui Trust Holdings Inc. Has $538,000 Stock Position in The Timken Company (NYSE:TKR)

Sumitomo Mitsui Trust Holdings Inc. cut its position in The Timken Company (NYSE:TKR) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,712 shares of the industrial products company’s stock after selling 208 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Timken were worth $538,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Timken by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock worth $134,233,000 after acquiring an additional 131,253 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Timken by 0.5% during the third quarter. Brown Advisory Inc. now owns 776,345 shares of the industrial products company’s stock worth $57,054,000 after purchasing an additional 4,000 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Timken by 16.8% in the third quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock valued at $56,159,000 after buying an additional 109,767 shares in the last quarter. Invesco Ltd. lifted its holdings in Timken by 31.9% during the 3rd quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock worth $50,015,000 after buying an additional 164,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Timken by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 614,535 shares of the industrial products company’s stock valued at $45,162,000 after buying an additional 15,374 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

TKR has been the topic of several research reports. Oppenheimer reaffirmed an “outperform” rating and set a $100.00 price target (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. The Goldman Sachs Group raised their target price on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. StockNews.com downgraded shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Morgan Stanley initiated coverage on shares of Timken in a research note on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price objective on the stock. Finally, DA Davidson started coverage on Timken in a research note on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.90.

Timken Stock Down 1.4 %

Shares of Timken stock opened at $84.85 on Friday. The business’s 50 day simple moving average is $85.27 and its 200 day simple moving average is $79.32. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08. The firm has a market cap of $5.97 billion, a PE ratio of 15.54, a P/E/G ratio of 1.19 and a beta of 1.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.79.

Timken (NYSE:TKR) last announced its earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. Timken had a return on equity of 19.57% and a net margin of 8.26%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $1.22 EPS. Timken’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts predict that The Timken Company will post 6.02 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s dividend payout ratio is presently 24.18%.

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.