Russell Investments Group Ltd. Buys 10,712 Shares of The Timken Company (NYSE:TKR)

Russell Investments Group Ltd. lifted its position in shares of The Timken Company (NYSE:TKR) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,153 shares of the industrial products company’s stock after acquiring an additional 10,712 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of Timken worth $8,588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Provident Investment Management Inc. bought a new stake in shares of Timken during the third quarter worth about $23,408,000. Stansberry Asset Management LLC bought a new stake in Timken during the 3rd quarter worth approximately $16,422,000. Atlantic Investment Management Inc. increased its position in Timken by 69.4% in the 3rd quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock valued at $38,222,000 after acquiring an additional 213,000 shares during the period. Invesco Ltd. raised its position 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 purchasing an additional 164,421 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in Timken during the 4th quarter worth about $12,398,000. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TKR. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective for the company. in a research report on Tuesday, February 20th. Loop Capital upped their price objective on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. StockNews.com downgraded shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. The Goldman Sachs Group upped their price target on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Finally, KeyCorp lifted their price objective on Timken from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.09.

Timken Stock Up 0.2 %

Shares of NYSE:TKR opened at $89.71 on Tuesday. The firm has a market cap of $6.32 billion, a P/E ratio of 17.09, a PEG ratio of 1.21 and a beta of 1.51. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08. The business’s 50 day simple moving average is $86.28 and its two-hundred day simple moving average is $80.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87.

Timken (NYSE:TKR) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. Timken’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business earned $2.09 EPS. As a group, research analysts forecast that The Timken Company will post 6.18 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 1.52%. Timken’s payout ratio is presently 25.14%.

Insider Buying and Selling

In other news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the sale, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Richard G. Kyle sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the transaction, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by company insiders.

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.