The Manufacturers Life Insurance Company Has $38.28 Million Position in The Timken Company (NYSE:TKR)

The Manufacturers Life Insurance Company reduced its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 454,107 shares of the industrial products company's stock after selling 75,054 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.65% of Timken worth $38,277,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Timken by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,317 shares of the industrial products company's stock valued at $7,810,000 after buying an additional 1,667 shares during the last quarter. Comerica Bank increased its position in Timken by 13.8% during the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company's stock worth $5,154,000 after acquiring an additional 7,160 shares during the period. Cetera Advisors LLC increased its position in Timken by 11.0% during the first quarter. Cetera Advisors LLC now owns 3,717 shares of the industrial products company's stock worth $325,000 after acquiring an additional 368 shares during the period. EverSource Wealth Advisors LLC raised its stake in Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 343 shares during the last quarter. Finally, Versant Capital Management Inc bought a new stake in Timken in the 2nd quarter valued at $30,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TKR has been the subject of a number of analyst reports. DA Davidson decreased their price target on Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Oppenheimer lowered their target price on shares of Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Citigroup initiated coverage on shares of Timken in a report on Monday, October 14th. They set a "neutral" rating and a $90.00 price target for the company. KeyCorp reaffirmed a "sector weight" rating on shares of Timken in a research note on Friday, November 22nd. Finally, Evercore ISI raised shares of Timken from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $90.00.

Timken Stock Up 0.8 %

Shares of NYSE:TKR traded up $0.65 during trading on Friday, hitting $77.45. 327,355 shares of the company's stock traded hands, compared to its average volume of 485,595. The company has a 50-day moving average price of $80.96 and a 200-day moving average price of $82.42. The Timken Company has a 52 week low of $72.14 and a 52 week high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43.

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

Timken Announces Dividend

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

Insider Activity at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, 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 SEC, which is available at the SEC website. 8.70% of the stock is 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.