Raymond James & Associates Has $6.64 Million Stock Position in The Timken Company (NYSE:TKR)

Raymond James & Associates lifted its stake in The Timken Company (NYSE:TKRGet Rating) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,500 shares of the industrial products company’s stock after purchasing an additional 1,886 shares during the quarter. Raymond James & Associates owned 0.15% of Timken worth $6,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Inspire Investing LLC lifted its position in shares of Timken by 4.1% in the second quarter. Inspire Investing LLC now owns 3,999 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 158 shares in the last quarter. Ronald Blue Trust Inc. lifted its position in shares of Timken by 28.8% in the third quarter. Ronald Blue Trust Inc. now owns 818 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 183 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Timken by 5.3% in the first quarter. Sequoia Financial Advisors LLC now owns 3,785 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 189 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Timken by 40.2% in the second quarter. Quadrant Capital Group LLC now owns 854 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 245 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Timken by 2.1% in the first quarter. Captrust Financial Advisors now owns 12,584 shares of the industrial products company’s stock worth $764,000 after purchasing an additional 257 shares in the last quarter. 82.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TKR. KeyCorp raised their price objective on shares of Timken from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, November 21st. Oppenheimer lifted their price objective on shares of Timken from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, September 30th. Morgan Stanley increased their target price on shares of Timken from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 14th. Stifel Nicolaus boosted their price target on Timken from $81.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. Finally, Bank of America raised Timken from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $87.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Timken currently has an average rating of “Moderate Buy” and a consensus target price of $80.44.

Timken Trading Up 3.6 %

Timken stock opened at $78.15 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 2.03. The business’s 50-day simple moving average is $72.24 and its 200-day simple moving average is $66.22. The firm has a market capitalization of $5.68 billion, a PE ratio of 15.69, a PEG ratio of 0.95 and a beta of 1.56. The Timken Company has a 52 week low of $50.85 and a 52 week high of $78.22.

Timken (NYSE:TKRGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.19. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Timken had a return on equity of 18.16% and a net margin of 8.44%. Equities research analysts forecast that The Timken Company will post 5.89 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Monday, November 21st were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.59%. Timken’s payout ratio is presently 24.90%.

Insider Transactions at Timken

In related news, VP Hansal N. Patel sold 1,247 shares of Timken stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $72.83, for a total transaction of $90,819.01. Following the sale, the vice president now directly owns 6,309 shares of the company’s stock, valued at $459,484.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Hansal N. Patel sold 1,247 shares of Timken stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $72.83, for a total transaction of $90,819.01. Following the sale, the vice president now directly owns 6,309 shares of the company’s stock, valued at $459,484.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard G. Kyle sold 16,650 shares of Timken stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $74.43, for a total value of $1,239,259.50. Following the sale, the chief executive officer now directly owns 339,843 shares in the company, valued at $25,294,514.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,244 shares of company stock worth $4,853,869. Company insiders own 10.79% of the company’s stock.

Timken Company Profile

(Get Rating)

The Timken Company designs, manufactures, and manages engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end-users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

Further Reading

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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