Quadrature Capital Ltd Sells 10,029 Shares of The Timken Company (NYSE:TKR)

Quadrature Capital Ltd trimmed its stake in shares of The Timken Company (NYSE:TKRFree Report) by 26.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,476 shares of the industrial products company’s stock after selling 10,029 shares during the quarter. Quadrature Capital Ltd’s holdings in Timken were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TKR. Pathstone Family Office LLC raised its position in shares of Timken by 68.7% during the third quarter. Pathstone Family Office LLC now owns 5,526 shares of the industrial products company’s stock worth $406,000 after acquiring an additional 2,251 shares during the last quarter. HighTower Advisors LLC increased its holdings in Timken by 4.1% in the third quarter. HighTower Advisors LLC now owns 23,090 shares of the industrial products company’s stock worth $1,702,000 after purchasing an additional 908 shares in the last quarter. UBS Group AG increased its holdings in Timken by 10.6% in the third quarter. UBS Group AG now owns 280,264 shares of the industrial products company’s stock worth $20,597,000 after purchasing an additional 26,916 shares in the last quarter. Citigroup Inc. increased its holdings in Timken by 64.5% in the third quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company’s stock worth $883,000 after purchasing an additional 4,712 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Timken by 7.1% in the third quarter. PNC Financial Services Group Inc. now owns 11,051 shares of the industrial products company’s stock worth $812,000 after purchasing an additional 732 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TKR shares. Loop Capital lifted their target price on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their target price on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. KeyCorp lifted their target price on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. StockNews.com downgraded Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Oppenheimer reissued an “outperform” rating and issued a $100.00 price objective (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Timken has an average rating of “Hold” and an average target price of $87.91.

Get Our Latest Stock Analysis on TKR

Timken Stock Up 1.6 %

Shares of NYSE:TKR opened at $81.92 on Tuesday. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.71 and a beta of 1.50. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The Timken Company has a 12-month low of $65.71 and a 12-month high of $95.08. The business’s 50 day moving average is $86.97 and its 200 day moving average is $83.54.

Timken (NYSE:TKRGet Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. Timken’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. On average, sell-side analysts forecast that The Timken Company will post 6.19 earnings per share for the current fiscal year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a dividend of $0.34 per share. This is a boost from Timken’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, May 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.66%. Timken’s payout ratio is presently 25.90%.

Insider Activity at Timken

In other Timken news, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the transaction, the chief executive officer now directly owns 366,799 shares in the company, valued at approximately $32,678,122.91. The disclosure for this sale can be found here. Insiders have sold a total of 59,006 shares of company stock valued at $5,269,636 over the last 90 days. Insiders own 8.70% of the company’s stock.

Timken Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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