Raymond James Financial Inc. Invests $14.46 Million in The Timken Company (NYSE:TKR)

Raymond James Financial Inc. acquired a new position in shares of The Timken Company (NYSE:TKR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 202,608 shares of the industrial products company’s stock, valued at approximately $14,460,000. Raymond James Financial Inc. owned approximately 0.29% of Timken as of its most recent SEC filing.

Several other large investors have also modified their holdings of TKR. Brooklyn Investment Group bought a new stake in shares of Timken during the 3rd quarter worth $74,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Timken during the 4th quarter worth $109,000. Blue Trust Inc. boosted its stake in shares of Timken by 88.3% during the 4th quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 880 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Timken by 8.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 158 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Timken in the third quarter worth $165,000. 89.08% of the stock is owned by institutional investors.

Timken Price Performance

Shares of NYSE:TKR opened at $74.56 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 Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The business has a fifty day simple moving average of $78.13 and a 200 day simple moving average of $78.57. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, sell-side analysts predict that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 1.82%. Timken’s dividend payout ratio (DPR) is currently 27.25%.

Analyst Ratings Changes

TKR has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Evercore ISI raised their target price on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Citigroup decreased their target price on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Finally, Bank of America raised Timken from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Insider Transactions at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

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.