202,608 Shares in The Timken Company (NYSE:TKR) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of The Timken Company (NYSE:TKR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 202,608 shares of the industrial products company’s stock, valued at approximately $14,460,000. Raymond James Financial Inc. owned about 0.29% of Timken as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Fairway Wealth LLC acquired a new stake in shares of Timken in the fourth quarter worth $29,000. Amundi increased its holdings in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Timken during the fourth quarter worth approximately $109,000. AlphaQuest LLC increased its stake in Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after buying an additional 1,559 shares during the period. Finally, 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 valued at $134,000 after buying an additional 880 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Down 1.9 %

Timken stock opened at $60.27 on Tuesday. The company’s 50 day simple moving average is $72.12 and its 200 day simple moving average is $75.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.51 and a beta of 1.28. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $94.71.

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, topping 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 anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.26%. Timken’s payout ratio is 27.25%.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on TKR shares. Jefferies Financial Group restated a “hold” rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd. The Goldman Sachs Group decreased their price objective on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley decreased their price target on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Loop Capital reduced their target price on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Finally, DA Davidson reissued a “neutral” rating and issued a $66.00 price target (down previously from $97.00) on shares of Timken in a research report on Monday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $81.91.

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.