Geode Capital Management LLC Grows Holdings in The Timken Company (NYSE:TKR)

Geode Capital Management LLC grew its stake in shares of The Timken Company (NYSE:TKR) by 0.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,074,595 shares of the industrial products company’s stock after acquiring an additional 1,472 shares during the period. Geode Capital Management LLC’s holdings in Timken were worth $76,718,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in Timken in the 4th quarter valued at about $29,000. Amundi boosted its holdings in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in Timken in the fourth quarter worth approximately $109,000. AlphaQuest LLC increased its holdings in Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 1,559 shares during the period. Finally, Blue Trust Inc. raised its position in Timken by 88.3% during the 4th quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 880 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Evercore ISI increased their target price on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group reduced their price target on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley increased their price objective 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. Finally, Citigroup cut their price objective on shares of Timken from $95.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.45.

Timken Price Performance

NYSE TKR opened at $61.50 on Friday. The firm’s fifty day simple moving average is $74.57 and its two-hundred day simple moving average is $76.78. The firm has a market capitalization of $4.30 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.51 and a beta of 1.28. 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 Timken Company has a 12-month low of $56.20 and a 12-month high of $94.71.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Analysts forecast that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.70% of the stock is owned by company insiders.

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.