Royal London Asset Management Ltd. Acquires 125,522 Shares of The Timken Company (NYSE:TKR)

Royal London Asset Management Ltd. boosted its holdings in The Timken Company (NYSE:TKR - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 485,318 shares of the industrial products company's stock after buying an additional 125,522 shares during the period. Royal London Asset Management Ltd. owned 0.69% of Timken worth $34,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TKR. Xponance Inc. increased its position in Timken by 5.9% during the fourth quarter. Xponance Inc. now owns 7,309 shares of the industrial products company's stock worth $522,000 after purchasing an additional 405 shares during the last quarter. First National Advisers LLC increased its stake in Timken by 4.5% during the fourth quarter. First National Advisers LLC now owns 43,446 shares of the industrial products company's stock worth $3,101,000 after acquiring an additional 1,885 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Timken by 108.9% in the 4th quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company's stock worth $28,398,000 after purchasing an additional 207,439 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Timken by 5.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,259 shares of the industrial products company's stock valued at $375,000 after buying an additional 251 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Timken by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 33,679 shares of the industrial products company's stock worth $2,404,000 after acquiring an additional 2,042 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

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Wall Street Analyst Weigh In

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

Timken Price Performance

Shares of TKR traded up $0.01 during mid-day trading on Tuesday, hitting $76.27. 861,870 shares of the company traded hands, compared to its average volume of 498,360. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.51 and a beta of 1.37. The business has a 50-day moving average of $78.25 and a 200 day moving average of $78.41. The Timken Company has a one year low of $69.35 and a one year high of $94.71.

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

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Tuesday, February 25th. Timken's dividend payout ratio (DPR) is currently 27.25%.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.