The Timken Company (NYSE:TKR) Holdings Lifted by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its stake in The Timken Company (NYSE:TKR – Get Rating) by 19.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,590 shares of the industrial products company’s stock after purchasing an additional 4,839 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Timken were worth $2,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC boosted its position in shares of Timken by 39.8% in the 4th quarter. CWM LLC now owns 481 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 137 shares during the period. Belpointe Asset Management LLC acquired a new stake in Timken during the 4th quarter worth about $38,000. Quent Capital LLC boosted its position in Timken by 66.1% during the 4th quarter. Quent Capital LLC now owns 741 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 295 shares during the period. My Personal CFO LLC acquired a new stake in Timken during the 4th quarter worth about $60,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Timken during the 1st quarter worth about $76,000. Institutional investors and hedge funds own 82.00% of the company’s stock.

Timken Stock Down 2.3 %

Shares of TKR stock opened at $72.63 on Thursday. The stock’s 50 day simple moving average is $76.55 and its 200 day simple moving average is $77.11. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.47 and a current ratio of 2.76. The Timken Company has a twelve month low of $50.85 and a twelve month high of $89.40. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.85 and a beta of 1.54.

Timken (NYSE:TKR – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.24. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Timken had a return on equity of 20.72% and a net margin of 8.88%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $1.61 EPS. As a group, research analysts predict that The Timken Company will post 7.26 EPS for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 16th will be given a $0.33 dividend. This is an increase from Timken’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Monday, May 15th. Timken’s payout ratio is currently 23.61%.

Analyst Ratings Changes

A number of equities research analysts have commented on TKR shares. KeyCorp raised their price objective on Timken from $88.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Jefferies Financial Group raised their price objective on Timken from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Evercore ISI decreased their price objective on Timken from $89.00 to $83.00 in a research report on Tuesday, May 9th. Morgan Stanley raised their price target on Timken from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 7th. Finally, StockNews.com raised Timken from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Timken currently has an average rating of “Moderate Buy” and an average target price of $90.78.

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 24,841 shares of Timken stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $85.97, for a total value of $2,135,580.77. Following the transaction, the chief executive officer now directly owns 383,082 shares of the company’s stock, valued at approximately $32,933,559.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Richard G. Kyle sold 24,841 shares of Timken stock in a transaction that occurred on Monday, February 27th. The stock was 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 of the company’s stock, valued at approximately $32,933,559.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard G. Kyle sold 24,851 shares of Timken stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $73.74, for a total value of $1,832,512.74. Following the sale, the chief executive officer now directly owns 383,082 shares in the company, valued at approximately $28,248,466.68. The disclosure for this sale can be found here. Insiders have sold a total of 72,924 shares of company stock valued at $5,681,918 in the last three months. Company insiders own 9.89% of the company’s stock.

Timken 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.