Raymond James Financial Inc. Makes New Investment in The Timken Company (NYSE:TKR)

Raymond James Financial Inc. acquired a new stake in The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 202,608 shares of the industrial products company's stock, valued at approximately $14,460,000. Raymond James Financial Inc. owned approximately 0.29% of Timken at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in shares of Timken in the fourth quarter valued at approximately $3,101,000. Atria Investments Inc boosted its holdings in Timken by 23.3% during the fourth quarter. Atria Investments Inc now owns 10,866 shares of the industrial products company's stock worth $776,000 after buying an additional 2,056 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its holdings in Timken by 24.3% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 5,754 shares of the industrial products company's stock worth $411,000 after buying an additional 1,124 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock worth $62,959,000 after buying an additional 711,979 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Timken by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 653,147 shares of the industrial products company's stock worth $46,615,000 after buying an additional 3,195 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

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Timken Stock Down 0.4 %

Shares of Timken stock traded down $0.34 during midday trading on Friday, reaching $74.35. 1,086,028 shares of the company's stock traded hands, compared to its average volume of 498,208. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The company's 50 day simple moving average is $78.21 and its 200 day simple moving average is $78.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating 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%. Equities analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 1.83%. Timken's payout ratio is presently 27.25%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Citigroup reduced their target price on shares of Timken from $90.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group upgraded shares of Timken from a "hold" rating to a "buy" rating and raised their target price for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and upped their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, Evercore ISI upped their price target on shares of Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Timken presently has a consensus rating of "Moderate Buy" and an average target price of $92.70.

Insider Activity at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.70% of the stock is currently 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.