Franklin Resources Inc. Buys 222 Shares of The Timken Company (NYSE:TKR)

Franklin Resources Inc. raised its stake in The Timken Company (NYSE:TKR) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,373 shares of the industrial products company’s stock after purchasing an additional 222 shares during the period. Franklin Resources Inc. owned approximately 0.06% of Timken worth $3,502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its position in Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after buying an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of 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 worth $225,880,000 after purchasing an additional 107,350 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after purchasing an additional 97,550 shares during the period. State Street Corp raised its stake in shares of Timken by 3.5% in 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. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after purchasing an additional 434,800 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Up 0.3 %

Shares of NYSE:TKR opened at $71.83 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $5.04 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.12 and a beta of 1.38. The Timken Company has a 12 month low of $70.20 and a 12 month high of $94.71. The company’s 50-day moving average price is $78.13 and its two-hundred day moving average price is $80.83.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned $1.55 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.89%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio is 28.27%.

Insider Buying and Selling

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the sale, the director now owns 194,485 shares in the company, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TKR. Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $82.00 to $93.00 in a research note on Tuesday, December 17th. Oppenheimer cut their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. DA Davidson lowered their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Finally, Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Timken currently has an average rating of “Moderate Buy” and an average target price of $92.90.

Timken Company Profile

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.