Russell Investments Group Ltd. lowered its stake in shares of Timken Co (NYSE:TKR) by 77.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 26,916 shares of the industrial products company’s stock after selling 90,110 shares during the period. Russell Investments Group Ltd.’s holdings in Timken were worth $1,307,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Timken by 15.0% during the 2nd quarter. Vanguard Group Inc. now owns 7,048,216 shares of the industrial products company’s stock worth $325,981,000 after purchasing an additional 917,902 shares during the period. BlackRock Inc. boosted its position in shares of Timken by 1.3% during the 2nd quarter. BlackRock Inc. now owns 5,746,878 shares of the industrial products company’s stock worth $265,793,000 after purchasing an additional 72,454 shares during the period. Earnest Partners LLC boosted its position in shares of Timken by 15.0% during the 2nd quarter. Earnest Partners LLC now owns 1,969,876 shares of the industrial products company’s stock worth $91,107,000 after purchasing an additional 257,073 shares during the period. State Street Corp boosted its position in shares of Timken by 0.5% during the 2nd quarter. State Street Corp now owns 1,922,313 shares of the industrial products company’s stock worth $88,912,000 after purchasing an additional 9,601 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Timken by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,408 shares of the industrial products company’s stock worth $85,117,000 after purchasing an additional 33,838 shares during the period. 78.90% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Richard G. Kyle sold 9,242 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total value of $459,789.50. Following the sale, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.08% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on TKR. Jefferies Group reaffirmed 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 raised shares of Timken from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Thursday, September 28th. Finally, Longbow Research raised shares of Timken from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $52.00.
Timken Co (TKR) opened at $51.85 on Friday. 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 Co has a 1 year low of $41.78 and a 1 year high of $53.10. The company has a market cap of $4,020.00, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50.
Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Timken had a net margin of 6.88% and a return on equity of 13.75%. The company had revenue of $771.40 million during the quarter, compared to analysts’ expectations of $758.91 million. During the same quarter last year, the company posted $0.53 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. equities research analysts forecast that Timken Co will post 2.62 earnings per share for the current fiscal year.
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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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