Raymond James Financial Inc. Acquires Shares of 202,608 The Timken Company (NYSE:TKR)

Raymond James Financial Inc. purchased a new position in The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 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 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its holdings in shares of Timken by 8.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company's stock valued at $141,000 after buying an additional 158 shares during the last quarter. Amundi boosted its stake in Timken by 25.8% during 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 last quarter. Sheets Smith Wealth Management increased its holdings in shares of Timken by 3.4% in the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company's stock worth $418,000 after purchasing an additional 190 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Timken by 7.8% in the fourth quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company's stock worth $204,000 after purchasing an additional 207 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Timken by 3.8% during the third quarter. MML Investors Services LLC now owns 5,790 shares of the industrial products company's stock valued at $488,000 after purchasing an additional 212 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TKR. Morgan Stanley lowered their target price on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Loop Capital cut their price objective on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, Evercore ISI raised their price objective on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.91.

Timken Stock Up 0.1 %

NYSE TKR traded up $0.04 during midday trading on Friday, hitting $65.03. 244,749 shares of the company traded hands, compared to its average volume of 555,329. The company has a market cap of $4.55 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. 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 company's 50-day simple moving average is $70.91 and its 200-day simple moving average is $75.47. The Timken Company has a 52 week low of $56.20 and a 52 week high of $94.71.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, equities research analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.09%. Timken's payout ratio is 27.25%.

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.70% of the stock is owned by company insiders.

Timken 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.