22,500 Shares in The Timken Company (NYSE:TKR) Purchased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC purchased a new position in The Timken Company (NYSE:TKR) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 22,500 shares of the industrial products company’s stock, valued at approximately $1,606,000.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of Timken in the 4th quarter worth about $29,000. Amundi increased its stake in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new stake in Timken during the 4th quarter valued at about $66,000. Kohmann Bosshard Financial Services LLC bought a new stake in Timken during the 4th quarter valued at about $109,000. Finally, AlphaQuest LLC increased its stake in Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 1,559 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Stock Performance

TKR opened at $73.31 on Wednesday. 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 company has a market cap of $5.13 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.51 and a beta of 1.30. The company’s 50 day moving average is $67.64 and its 200 day moving average is $73.83. The Timken Company has a 12-month low of $56.20 and a 12-month high of $93.66.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 EPS. On average, equities research analysts predict that The Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.91%. This is an increase from Timken’s previous quarterly dividend of $0.34. Timken’s payout ratio is currently 30.17%.

Wall Street Analysts Forecast Growth

TKR has been the subject of a number of analyst reports. Oppenheimer reduced their price objective on shares of Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Evercore ISI raised their price objective 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. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. DA Davidson lifted their price target on shares of Timken from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Loop Capital reduced their price target on shares of Timken from $85.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Timken has an average rating of “Hold” and a consensus price target of $80.20.

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.