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

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TKR. Y Intercept Hong Kong Ltd purchased a new position in shares of Timken in the 2nd quarter valued at $811,000. Brandywine Oak Private Wealth LLC increased its holdings in Timken by 43.3% in the 2nd quarter. Brandywine Oak Private Wealth LLC now owns 5,893 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 1,782 shares in the last quarter. Investment Partners LTD. purchased a new position in Timken in the third quarter valued at about $235,000. AlphaCrest Capital Management LLC lifted its stake in shares of Timken by 369.1% during the second quarter. AlphaCrest Capital Management LLC now owns 22,933 shares of the industrial products company’s stock worth $1,217,000 after purchasing an additional 18,044 shares in the last quarter. Finally, Hudson Bay Capital Management LP boosted its position in shares of Timken by 15.9% in the second quarter. Hudson Bay Capital Management LP now owns 104,335 shares of the industrial products company’s stock worth $5,535,000 after buying an additional 14,331 shares during the period. 82.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on TKR shares. Stifel Nicolaus raised their target price on Timken from $81.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 19th. The Goldman Sachs Group lifted their price objective on shares of Timken from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, December 15th. Morgan Stanley upped their target price on shares of Timken from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 14th. Citigroup lifted their price target on shares of Timken to $78.00 in a research note on Tuesday, November 1st. Finally, Oppenheimer upped their price objective on shares of Timken from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, September 30th. 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.

Timken Trading Down 2.5 %

NYSE TKR opened at $74.01 on Friday. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.03 and a quick ratio of 1.09. The Timken Company has a 12 month low of $50.85 and a 12 month high of $78.59. The company’s fifty day moving average price is $72.60 and its two-hundred day moving average price is $66.77.

Timken (NYSE:TKR – Get Rating) last issued its earnings results on Wednesday, October 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating 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 net margin of 8.44% and a return on equity of 18.16%. As a group, research analysts predict that The Timken Company will post 5.89 earnings per share for the current fiscal year.

Timken Announces Dividend

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

Insider Activity

In related news, EVP Christopher A. Coughlin sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 103,140 shares in the company, valued at $7,146,570.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 103,140 shares of the company’s stock, valued at approximately $7,146,570.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard G. Kyle sold 16,676 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $74.03, for a total transaction of $1,234,524.28. Following the completion of the transaction, the chief executive officer now directly owns 339,843 shares in the company, valued at approximately $25,158,577.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,244 shares of company stock worth $4,853,869. 10.79% of the stock is currently owned by insiders.

About Timken

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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.