Raymond James & Associates Has $15.40 Million Holdings in The Timken Company (NYSE:TKR)

Raymond James & Associates raised its position in The Timken Company (NYSE:TKR - Free Report) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,749 shares of the industrial products company's stock after purchasing an additional 17,124 shares during the period. Raymond James & Associates owned about 0.26% of Timken worth $15,404,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Creative Planning grew its holdings in Timken by 1.7% in the 2nd quarter. Creative Planning now owns 9,123 shares of the industrial products company's stock valued at $731,000 after buying an additional 150 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Timken by 3.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company's stock valued at $407,000 after acquiring an additional 155 shares during the period. Blue Trust Inc. raised its holdings in shares of Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company's stock worth $80,000 after purchasing an additional 166 shares during the period. UMB Bank n.a. lifted its stake in shares of Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 168 shares in the last quarter. Finally, NBC Securities Inc. increased its position in Timken by 1.6% during the 3rd quarter. NBC Securities Inc. now owns 11,531 shares of the industrial products company's stock worth $971,000 after purchasing an additional 177 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Price Performance

NYSE TKR traded down $0.09 on Friday, reaching $84.61. 241,990 shares of the stock traded hands, compared to its average volume of 467,659. The Timken Company has a 12 month low of $65.71 and a 12 month high of $94.71. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The firm's fifty day simple moving average is $82.92 and its 200 day simple moving average is $84.03. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.92 and a beta of 1.43.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm's revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 earnings per share. As a group, research analysts predict that The Timken Company will post 6.05 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.61%. Timken's dividend payout ratio is 25.90%.

Analyst Ratings Changes

Several research firms have issued reports on TKR. Citigroup initiated coverage on shares of Timken in a research note on Monday, October 14th. They set a "neutral" rating and a $90.00 price objective for the company. DA Davidson reiterated a "buy" rating and issued a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Finally, Evercore ISI reduced their price objective on Timken from $94.00 to $87.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $91.70.

Insider Buying and Selling

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the business's stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer now owns 244,485 shares of the company's stock, valued at $19,671,263.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Timken Company 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.