The Timken Company (NYSE:TKR) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in The Timken Company (NYSE:TKR) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,589 shares of the industrial products company’s stock after buying an additional 5,221 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Timken were worth $24,908,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TKR. Retirement Systems of Alabama lifted its stake in Timken by 4.4% in the fourth quarter. Retirement Systems of Alabama now owns 184,387 shares of the industrial products company’s stock valued at $13,160,000 after acquiring an additional 7,744 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Timken by 2.6% during the 4th quarter. Pacer Advisors Inc. now owns 9,507 shares of the industrial products company’s stock valued at $679,000 after purchasing an additional 237 shares in the last quarter. KBC Group NV lifted its stake in shares of Timken by 83.6% in the 4th quarter. KBC Group NV now owns 3,114 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 1,418 shares during the last quarter. Blue Trust Inc. boosted its holdings in Timken by 107.5% in the fourth quarter. Blue Trust Inc. now owns 2,069 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 1,072 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its position in Timken by 17.2% during the fourth quarter. Olstein Capital Management L.P. now owns 17,000 shares of the industrial products company’s stock worth $1,213,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TKR shares. Citigroup decreased their price target on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley upped their target price on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. KeyCorp reissued a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, Oppenheimer lowered their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Timken presently has an average rating of “Moderate Buy” and an average price target of $91.60.

Timken Stock Performance

NYSE TKR opened at $83.09 on Friday. The company’s fifty day moving average is $76.01 and its two-hundred day moving average is $79.32. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.21 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.62. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71.

Timken (NYSE:TKR) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Equities research analysts forecast that The Timken Company will post 5.6 EPS for the current year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.64%. Timken’s dividend payout ratio is currently 27.25%.

Insider Buying and Selling at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

Timken Company 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.