Raymond James & Associates Has $9.01 Million Stake in The Timken Company (NYSE:TKR)

Raymond James & Associates boosted its position in The Timken Company (NYSE:TKR – Get Rating) by 13.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,522 shares of the industrial products company’s stock after buying an additional 15,022 shares during the period. Raymond James & Associates owned approximately 0.18% of Timken worth $9,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TKR. BlackRock Inc. lifted its holdings in Timken by 12.5% in the third quarter. BlackRock Inc. now owns 6,620,518 shares of the industrial products company’s stock valued at $390,875,000 after buying an additional 736,067 shares during the period. Invesco Ltd. increased its stake in Timken by 54.9% in the first quarter. Invesco Ltd. now owns 1,588,490 shares of the industrial products company’s stock valued at $96,421,000 after purchasing an additional 562,930 shares in the last quarter. Premier Fund Managers Ltd bought a new stake in Timken in the fourth quarter valued at $9,447,000. First Trust Advisors LP increased its stake in Timken by 71.5% in the first quarter. First Trust Advisors LP now owns 617,636 shares of the industrial products company’s stock valued at $37,490,000 after purchasing an additional 257,536 shares in the last quarter. Finally, Braun Stacey Associates Inc. bought a new stake in Timken in the fourth quarter valued at $12,913,000. Institutional investors and hedge funds own 82.00% of the company’s stock.

Timken Stock Up 1.8 %

TKR opened at $76.57 on Friday. The company has a 50 day moving average of $77.10 and a 200 day moving average of $76.98. The company has a market cap of $5.54 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.86 and a beta of 1.54. The Timken Company has a 12 month low of $50.85 and a 12 month high of $89.40. The company has a current ratio of 2.76, a quick ratio of 1.47 and a debt-to-equity ratio of 0.81.

Timken (NYSE:TKR – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.85 by $0.24. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. Timken had a net margin of 8.88% and a return on equity of 20.72%. Timken’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $1.61 EPS. On average, sell-side analysts expect that The Timken Company will post 7.3 EPS for the current year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 16th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, May 15th. This is a boost from Timken’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 1.72%. Timken’s dividend payout ratio is currently 23.61%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TKR. Citigroup lifted their price target on shares of Timken from $78.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Oppenheimer upped their target price on shares of Timken from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. Evercore ISI lowered their target price on shares of Timken from $89.00 to $83.00 in a report on Tuesday, May 9th. The Goldman Sachs Group upped their target price on shares of Timken from $70.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, February 8th. Finally, KeyCorp upped their target price on shares of Timken from $88.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, February 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.78.

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 23,232 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $73.77, for a total value of $1,713,824.64. Following the sale, the chief executive officer now directly owns 383,082 shares in the company, valued at approximately $28,259,959.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Richard G. Kyle sold 23,232 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $73.77, for a total transaction of $1,713,824.64. Following the sale, the chief executive officer now owns 383,082 shares in the company, valued at approximately $28,259,959.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard G. Kyle sold 24,841 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $85.97, for a total transaction of $2,135,580.77. Following the sale, the chief executive officer now owns 383,082 shares in the company, valued at approximately $32,933,559.54. The disclosure for this sale can be found here. Insiders have sold 72,924 shares of company stock worth $5,681,918 in the last three months. 9.89% of the stock is currently owned by corporate insiders.

About Timken

(Get Rating)

The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.