Raymond James Financial Services Advisors Inc. Grows Stake in The Timken Company (NYSE:TKR)

Raymond James Financial Services Advisors Inc. lifted its stake in The Timken Company (NYSE:TKR – Get Rating) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,751 shares of the industrial products company’s stock after acquiring an additional 776 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Timken were worth $1,461,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Inspire Investing LLC boosted its holdings in Timken by 4.1% in the 2nd quarter. Inspire Investing LLC now owns 3,999 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 158 shares during the period. Ronald Blue Trust Inc. boosted its stake 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 valued at $43,000 after purchasing an additional 183 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Timken by 5.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,785 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 189 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Timken by 40.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 854 shares of the industrial products company’s stock worth $45,000 after buying an additional 245 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Timken by 2.1% in the 1st quarter. Captrust Financial Advisors now owns 12,584 shares of the industrial products company’s stock worth $764,000 after buying an additional 257 shares in the last quarter. Institutional investors and hedge funds own 82.00% of the company’s stock.

Timken Stock Performance

TKR stock opened at $74.01 on Friday. The stock’s 50 day simple moving average is $72.60 and its 200 day simple moving average is $66.77. The Timken Company has a 12-month low of $50.85 and a 12-month high of $78.59. The firm has a market cap of $5.38 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.98 and a beta of 1.56. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

Timken (NYSE:TKR – Get Rating) last released its earnings results on Wednesday, October 26th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.19. Timken had a net margin of 8.44% and a return on equity of 18.16%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. As a group, equities research analysts predict that The Timken Company will post 5.89 EPS for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Monday, November 21st were issued a $0.31 dividend. The ex-dividend date was Friday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.68%. Timken’s dividend payout ratio is currently 24.90%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TKR. StockNews.com upgraded Timken from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 28th. Citigroup raised their price objective on Timken to $78.00 in a research note on Tuesday, November 1st. The Goldman Sachs Group upped their target price on Timken from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, December 15th. KeyCorp increased their target price on Timken from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, November 21st. Finally, Bank of America upgraded shares of Timken from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $71.00 to $87.00 in a research note on Friday, January 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Timken has an average rating of “Moderate Buy” and an average target price of $80.44.

Insider Buying and Selling at Timken

In other news, EVP Christopher A. Coughlin sold 15,000 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the sale, the executive vice president now directly owns 103,140 shares in the company, valued at approximately $7,146,570.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the completion of the transaction, the executive vice president now owns 103,140 shares of the company’s stock, valued at $7,146,570.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jacqueline F. Woods sold 1,798 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $74.64, for a total transaction of $134,202.72. Following the completion of the sale, the director now directly owns 14,770 shares in the company, valued at approximately $1,102,432.80. The disclosure for this sale can be found here. Insiders sold a total of 67,244 shares of company stock worth $4,853,869 over the last ninety days. Company insiders own 10.79% of the company’s stock.

Timken Company Profile

(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.