Eagle Asset Management Inc. Lowers Holdings in The Timken Company (NYSE:TKR)

Eagle Asset Management Inc. lowered its position in The Timken Company (NYSE:TKRFree Report) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,065 shares of the industrial products company’s stock after selling 2,361 shares during the quarter. Eagle Asset Management Inc.’s holdings in Timken were worth $1,207,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Jade Capital Advisors LLC bought a new stake in shares of Timken in the fourth quarter valued at about $2,004,000. TFO Wealth Partners LLC raised its holdings in shares of Timken by 63,450.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,542 shares of the industrial products company’s stock valued at $204,000 after purchasing an additional 2,538 shares in the last quarter. Provident Investment Management Inc. boosted its stake in shares of Timken by 2.0% during the fourth quarter. Provident Investment Management Inc. now owns 324,940 shares of the industrial products company’s stock valued at $26,044,000 after purchasing an additional 6,423 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Timken by 12.4% during the fourth quarter. Hsbc Holdings PLC now owns 39,430 shares of the industrial products company’s stock valued at $3,155,000 after buying an additional 4,362 shares during the period. Finally, Johnson Financial Group Inc. raised its stake in Timken by 145.4% in the fourth quarter. Johnson Financial Group Inc. now owns 1,264 shares of the industrial products company’s stock worth $101,000 after buying an additional 749 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. KeyCorp lifted their price target on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Oppenheimer reissued an “outperform” rating and set a $100.00 price target (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. Stifel Nicolaus raised their price target on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Loop Capital raised their target price on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $87.91.

Read Our Latest Research Report on TKR

Timken Stock Up 1.3 %

NYSE:TKR opened at $84.80 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02. The company’s fifty day moving average price is $87.73 and its 200-day moving average price is $82.89. The Timken Company has a 1-year low of $65.71 and a 1-year high of $95.08. The firm has a market capitalization of $5.97 billion, a P/E ratio of 16.15, a PEG ratio of 1.78 and a beta of 1.50.

Timken (NYSE:TKRGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 EPS. As a group, equities research analysts anticipate that The Timken Company will post 6.19 EPS for the current year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a $0.34 dividend. This is a boost from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, May 13th. Timken’s payout ratio is currently 25.90%.

Insider Buying and Selling

In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the transaction, the executive vice president now owns 84,995 shares in the company, valued at $7,590,053.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Philip D. Fracassa sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the transaction, the chief financial officer now owns 105,541 shares in the company, valued at approximately $9,473,360.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,006 shares of company stock valued at $5,269,636. Corporate insiders own 8.70% of the company’s stock.

Timken Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Timken Company (NYSE:TKRFree Report).

Institutional Ownership by Quarter for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.