QRG Capital Management Inc. Raises Stock Position in The Timken Company (NYSE:TKR)

QRG Capital Management Inc. grew its holdings in shares of The Timken Company (NYSE:TKR) by 5.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 54,399 shares of the industrial products company’s stock after acquiring an additional 2,664 shares during the quarter. QRG Capital Management Inc.’s holdings in Timken were worth $3,882,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its position in Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after purchasing an additional 434,800 shares during the period. Verition Fund Management LLC increased its position in shares of Timken by 3,179.1% during the 3rd quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock valued at $16,340,000 after purchasing an additional 187,946 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after buying an additional 107,350 shares during the period. Royce & Associates LP lifted its position in Timken by 73.2% in the third quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock worth $16,054,000 after buying an additional 80,513 shares during the last quarter. Finally, State Street Corp boosted its stake in Timken by 3.5% during the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after buying an additional 66,208 shares during the period. Institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now directly 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 SEC, which is available at this link. 8.70% of the stock is owned by insiders.

Timken Trading Up 2.2 %

Shares of NYSE TKR opened at $81.06 on Friday. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The firm has a market cap of $5.67 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.51 and a beta of 1.39. The business has a fifty day simple moving average of $77.33 and a two-hundred day simple moving average of $79.29. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS 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 expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 1.68%. Timken’s dividend payout ratio (DPR) is 27.25%.

Analyst Ratings Changes

TKR has been the topic of several recent analyst reports. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup reduced their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI increased their price target on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Morgan Stanley boosted their price objective on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and upped their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.70.

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.