Quantitative Systematic Strategies LLC grew its position in shares of Timken Co (NYSE:TKR) by 57.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,264 shares of the industrial products company’s stock after purchasing an additional 4,491 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Timken were worth $603,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Timken by 15.0% during the second quarter. Vanguard Group Inc. now owns 7,048,216 shares of the industrial products company’s stock valued at $325,981,000 after purchasing an additional 917,902 shares in the last quarter. Earnest Partners LLC grew its position in shares of Timken by 1.3% during the third quarter. Earnest Partners LLC now owns 1,995,646 shares of the industrial products company’s stock valued at $96,889,000 after purchasing an additional 25,770 shares in the last quarter. State Street Corp grew its position in shares of Timken by 0.5% during the second quarter. State Street Corp now owns 1,922,313 shares of the industrial products company’s stock valued at $88,912,000 after purchasing an additional 9,601 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Timken by 20.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,350,766 shares of the industrial products company’s stock valued at $62,473,000 after purchasing an additional 230,730 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Timken by 20.8% during the third quarter. Victory Capital Management Inc. now owns 823,123 shares of the industrial products company’s stock valued at $39,962,000 after purchasing an additional 141,506 shares in the last quarter. Hedge funds and other institutional investors own 79.33% of the company’s stock.
TKR has been the subject of a number of research analyst reports. Jefferies Group restated a “hold” rating and set a $50.00 price objective on shares of Timken in a research report on Thursday, October 26th. Zacks Investment Research lowered Timken from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Longbow Research upgraded Timken from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $54.00.
In related news, insider Richard G. Kyle sold 9,242 shares of Timken stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the transaction, the insider now owns 89,236 shares in the company, valued at $4,439,491. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.08% of the company’s stock.
Timken Co (NYSE TKR) opened at $50.00 on Monday. The company has a market capitalization of $3,880.86, a PE ratio of 20.75, a P/E/G ratio of 1.33 and a beta of 1.44. Timken Co has a 12-month low of $41.78 and a 12-month high of $55.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.59 and a quick ratio of 1.38.
Timken Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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