Janney Montgomery Scott LLC Raises Position in The Timken Company (NYSE:TKR)

Janney Montgomery Scott LLC grew its stake in The Timken Company (NYSE:TKR - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,102 shares of the industrial products company's stock after purchasing an additional 22,003 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.15% of Timken worth $7,644,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of TKR. Thrivent Financial for Lutherans increased its stake in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company's stock valued at $225,880,000 after purchasing an additional 107,350 shares during the period. State Street Corp grew its position in Timken by 3.5% in the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company's stock valued at $164,689,000 after buying an additional 66,208 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Timken by 34.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock valued at $143,376,000 after purchasing an additional 434,800 shares in the last quarter. Geode Capital Management LLC grew its holdings in Timken by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company's stock worth $90,477,000 after acquiring an additional 5,970 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Timken by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 649,952 shares of the industrial products company's stock valued at $54,784,000 after purchasing an additional 1,989 shares during the last quarter. Institutional investors own 89.08% of the company's stock.

Timken Stock Up 0.8 %

Shares of Timken stock traded up $0.58 during trading hours on Wednesday, reaching $77.20. The company's stock had a trading volume of 425,931 shares, compared to its average volume of 560,430. The Timken Company has a one year low of $69.35 and a one year high of $94.71. The company has a market capitalization of $5.41 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.99 and a beta of 1.39. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The stock's fifty day simple moving average is $74.97 and its two-hundred day simple moving average is $79.61.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 EPS. On average, research analysts forecast that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.76%. Timken's dividend payout ratio is currently 28.27%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TKR shares. KeyCorp reissued a "sector weight" rating on shares of Timken in a research report on Friday, November 22nd. Morgan Stanley raised shares of Timken from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $82.00 to $93.00 in a research report on Tuesday, December 17th. Oppenheimer decreased their target price on shares of Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. DA Davidson dropped their price target on shares of Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group raised Timken from a "hold" rating to a "buy" rating and lifted their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $92.40.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares of the company's stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is currently owned by company insiders.

About Timken

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.