Royce & Associates LP Purchases 207,439 Shares of The Timken Company (NYSE:TKR)

Royce & Associates LP boosted its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 108.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 397,895 shares of the industrial products company's stock after buying an additional 207,439 shares during the period. Royce & Associates LP owned approximately 0.57% of Timken worth $28,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Vestcor Inc acquired a new position in shares of Timken in the 3rd quarter valued at about $560,000. TT International Asset Management LTD increased its stake in Timken by 1,075.2% in the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company's stock valued at $3,310,000 after buying an additional 35,932 shares during the period. Barclays PLC lifted its position in Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after buying an additional 59,716 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Timken in the 3rd quarter worth approximately $2,863,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company's stock valued at $4,327,000 after buying an additional 13,697 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Timken 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 sale, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. This trade represents a 5.23 % 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 currently owned by insiders.

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Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and increased their price objective for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Evercore ISI lifted their price target on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. KeyCorp restated a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. 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 research note on Tuesday, January 14th. Finally, Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.70.

Timken Stock Performance

Timken stock traded down $0.75 on Thursday, reaching $74.70. 428,376 shares of the stock were exchanged, compared to its average volume of 495,891. The stock has a market cap of $5.23 billion, a PE ratio of 14.97, a PEG ratio of 1.51 and a beta of 1.37. The firm has a fifty day moving average price of $78.16 and a two-hundred day moving average price of $78.55. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Sell-side analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken's payout ratio is 27.25%.

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.