Federated Hermes Inc. Acquires 28,246 Shares of The Timken Company (NYSE:TKR)

Federated Hermes Inc. raised its holdings in The Timken Company (NYSE:TKR) by 13.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 245,668 shares of the industrial products company’s stock after buying an additional 28,246 shares during the quarter. Federated Hermes Inc.’s holdings in Timken were worth $17,533,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Timken by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company’s stock valued at $461,461,000 after purchasing an additional 26,973 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Timken by 11.3% during the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after purchasing an additional 320,354 shares in the last quarter. State Street Corp lifted its position in shares of Timken by 3.5% during the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after purchasing an additional 66,208 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Timken by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock valued at $90,477,000 after purchasing an additional 5,970 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock valued at $62,959,000 after purchasing an additional 711,979 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group dropped their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley boosted their target price on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Finally, Citigroup lowered their price target on shares of Timken from $95.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.45.

Insider Transactions at Timken

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

Timken Stock Performance

Timken stock opened at $63.57 on Thursday. The firm’s 50 day simple moving average is $75.26 and its 200 day simple moving average is $77.08. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $4.45 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The Timken Company has a 1-year low of $56.20 and a 1-year high of $94.71.

Timken (NYSE:TKR) last posted 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 net margin of 7.71% and a return on equity of 13.93%. As a group, analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Tuesday, February 25th. Timken’s payout ratio is 27.25%.

About Timken

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.