Northern Trust Corp Sells 9,433 Shares of Timken Company (The) (NYSE:TKR)

Northern Trust Corp lessened its holdings in shares of Timken Company (The) (NYSE:TKR) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 637,597 shares of the industrial products company’s stock after selling 9,433 shares during the period. Northern Trust Corp owned 0.82% of Timken Company (The) worth $29,489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in shares of Timken Company (The) by 0.5% during the second quarter. Teacher Retirement System of Texas now owns 5,618 shares of the industrial products company’s stock valued at $260,000 after buying an additional 26 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its holdings in shares of Timken Company (The) by 0.6% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 6,510 shares of the industrial products company’s stock valued at $301,000 after buying an additional 41 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Timken Company (The) by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,244 shares of the industrial products company’s stock valued at $474,000 after buying an additional 47 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Timken Company (The) by 0.4% during the first quarter. OppenheimerFunds Inc. now owns 14,570 shares of the industrial products company’s stock valued at $659,000 after buying an additional 64 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Timken Company (The) by 0.4% during the first quarter. Oppenheimer & Co. Inc. now owns 24,550 shares of the industrial products company’s stock valued at $1,110,000 after buying an additional 100 shares during the last quarter. 79.44% of the stock is currently owned by institutional investors.

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Timken Company (NYSE:TKR) opened at 47.90 on Friday. The company’s 50 day moving average is $48.44 and its 200-day moving average is $46.59. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 23.77 and a beta of 1.41. Timken Company has a 1-year low of $31.60 and a 1-year high of $53.10.

Timken Company (The) (NYSE:TKR) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. Timken Company (The) had a net margin of 6.88% and a return on equity of 13.75%. The company had revenue of $771.40 million for the quarter, compared to analyst estimates of $758.91 million. During the same period in the prior year, the business earned $0.53 earnings per share. Timken Company (The)’s quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts predict that Timken Company will post $2.57 EPS for the current fiscal year.

A number of research firms have recently weighed in on TKR. BidaskClub cut Timken Company (The) from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Jefferies Group LLC reaffirmed a “hold” rating and set a $45.00 price target on shares of Timken Company (The) in a report on Friday, July 14th. Zacks Investment Research raised Timken Company (The) from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Thursday, September 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $53.00 price target on shares of Timken Company (The) in a report on Friday, June 30th. Finally, ValuEngine upgraded shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Timken Company (The) currently has a consensus rating of “Hold” and a consensus price target of $47.50.

Timken Company (The) 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.

Institutional Ownership by Quarter for Timken Company (The) (NYSE:TKR)

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