Northern Trust Corp Grows Holdings in The Timken Company (NYSE:TKR)

Northern Trust Corp grew its stake in shares of The Timken Company (NYSE:TKR) by 19.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 611,513 shares of the industrial products company’s stock after buying an additional 98,827 shares during the period. Northern Trust Corp’s holdings in Timken were worth $43,644,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TKR. Victory Capital Management Inc. raised its position in Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock valued at $62,959,000 after purchasing an additional 711,979 shares in the last quarter. Norges Bank purchased a new position in shares of Timken during the 4th quarter valued at about $42,748,000. American Century Companies Inc. lifted its position in Timken by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock worth $225,436,000 after buying an additional 320,354 shares during the last quarter. Royce & Associates LP grew its position in Timken by 108.9% during the fourth quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company’s stock valued at $28,398,000 after acquiring an additional 207,439 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Timken during the fourth quarter valued at approximately $14,460,000. 89.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TKR shares. Oppenheimer cut their price objective on shares of Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. DA Davidson raised their price objective on Timken from $66.00 to $71.00 and gave the company a “neutral” rating in a research note on Monday. Citigroup lifted their price objective on Timken from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI increased their target price on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Loop Capital lowered their price objective on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.20.

Timken Price Performance

Shares of TKR stock opened at $68.46 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $93.66. The firm has a market cap of $4.79 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.51 and a beta of 1.30. The business’s 50 day moving average price is $67.89 and its 200-day moving average price is $74.17.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). Timken had a net margin of 7.71% and a return on equity of 13.93%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.05%. This is a boost from Timken’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, May 13th. Timken’s payout ratio is presently 30.17%.

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.