State Street Corp Acquires 9,601 Shares of Timken Company (The) (NYSE:TKR)

State Street Corp raised its stake in shares of Timken Company (The) (NYSE:TKR) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,922,313 shares of the industrial products company’s stock after buying an additional 9,601 shares during the period. State Street Corp owned about 2.47% of Timken Company (The) worth $88,912,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OppenheimerFunds Inc. boosted its holdings in Timken Company (The) by 0.4% in the 1st quarter. OppenheimerFunds Inc. now owns 14,570 shares of the industrial products company’s stock worth $659,000 after buying an additional 64 shares during the period. Teachers Advisors LLC raised its holdings in shares of Timken Company (The) by 9.0% during the first quarter. Teachers Advisors LLC now owns 209,964 shares of the industrial products company’s stock worth $9,490,000 after purchasing an additional 17,346 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Timken Company (The) by 2.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,736 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 228 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Timken Company (The) by 36.2% during the first quarter. Legal & General Group Plc now owns 77,894 shares of the industrial products company’s stock worth $3,520,000 after purchasing an additional 20,718 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Timken Company (The) by 8.9% during the first quarter. Thrivent Financial For Lutherans now owns 13,150 shares of the industrial products company’s stock worth $594,000 after purchasing an additional 1,080 shares during the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.

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A number of research analysts have weighed in on the stock. Goldman Sachs Group, Inc. (The) cut shares of Timken Company (The) from a “conviction-buy” rating to a “buy” rating and cut their price objective for the company from $55.00 to $51.00 in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Timken Company (The) in a report on Thursday, October 26th. Zacks Investment Research cut shares of Timken Company (The) from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. ValuEngine cut shares of Timken Company (The) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub cut shares of Timken Company (The) from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $49.60.

Timken Company (NYSE:TKR) traded up $0.45 during trading hours on Friday, reaching $46.65. 489,700 shares of the company’s stock traded hands, compared to its average volume of 794,289. The company has a quick ratio of 1.38, a current ratio of 2.59 and a debt-to-equity ratio of 0.66. The firm has a market cap of $3,585.91, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.53 and a beta of 1.46. Timken Company has a 12 month low of $37.80 and a 12 month high of $53.10.

Timken Company (The) (NYSE:TKR) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The company had revenue of $771.40 million for the quarter, compared to the consensus estimate of $758.91 million. Timken Company (The) had a net margin of 6.88% and a return on equity of 13.75%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. sell-side analysts anticipate that Timken Company will post 2.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, November 16th. This represents a $1.08 dividend on an annualized basis and a yield of 2.32%. Timken Company (The)’s payout ratio is currently 43.03%.

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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