The Timken Company (NYSE:TKR) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its position in The Timken Company (NYSE:TKR) by 10.3% during the third quarter, Holdings Channel reports. The firm owned 182,749 shares of the industrial products company’s stock after buying an additional 17,124 shares during the quarter. Raymond James & Associates’ holdings in Timken were worth $15,404,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TKR. Vanguard Group Inc. boosted its stake in shares of Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after purchasing an additional 347,794 shares during the period. Interval Partners LP purchased a new position in Timken in the 1st quarter valued at approximately $22,907,000. American Century Companies Inc. grew its stake in shares of Timken by 4.8% in 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 acquiring an additional 128,791 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of Timken during the first quarter worth $9,130,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Timken by 4.9% in 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 acquiring an additional 97,550 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Performance

Shares of Timken stock opened at $84.61 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The Timken Company has a 52 week low of $65.71 and a 52 week high of $94.71. The firm’s 50 day moving average is $82.92 and its two-hundred day moving average is $84.05. The firm has a market capitalization of $5.96 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.92 and a beta of 1.43.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $2.01 EPS. The company’s revenue was down 7.1% on a year-over-year basis. Research analysts forecast that The Timken Company will post 6.05 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s payout ratio is currently 25.90%.

Insider Activity at Timken

In other news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the transaction, the chief executive officer now directly owns 274,485 shares in the company, valued at approximately $22,167,408.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TKR. Evercore ISI lowered their target price on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. DA Davidson reissued a “buy” rating and set a $103.00 price objective on shares of Timken in a research report on Tuesday, September 17th. Finally, Citigroup started coverage on shares of Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.70.

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.