American Century Companies Inc. Purchases 320,354 Shares of The Timken Company (NYSE:TKR)

American Century Companies Inc. boosted its holdings in The Timken Company (NYSE:TKR - Free Report) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,158,690 shares of the industrial products company's stock after buying an additional 320,354 shares during the period. American Century Companies Inc. owned approximately 4.50% of Timken worth $225,436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its holdings in Timken by 3.5% during the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company's stock valued at $164,689,000 after purchasing an additional 66,208 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock valued at $143,376,000 after buying an additional 434,800 shares in the last quarter. Geode Capital Management LLC raised its stake in Timken by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company's stock worth $90,477,000 after buying an additional 5,970 shares during the period. Victory Capital Management Inc. lifted 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 acquiring an additional 711,979 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Timken by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company's stock valued at $55,928,000 after acquiring an additional 30,411 shares during the period. 89.08% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several research firms have recently weighed in on TKR. Morgan Stanley lifted their price objective on Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Citigroup reduced their price target 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. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Jefferies Financial Group raised shares of Timken from a "hold" rating to a "buy" rating and boosted their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, Evercore ISI increased their target price on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.70.

Insider Buying and Selling at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.70% of the company's stock.

Timken Stock Up 0.0 %

TKR stock traded up $0.01 during mid-day trading on Tuesday, reaching $76.27. The company had a trading volume of 471,921 shares, compared to its average volume of 498,360. The company 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 Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71. The stock has a 50 day simple moving average of $78.25 and a two-hundred day simple moving average of $78.41. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

Timken (NYSE:TKR - Get Free Report) last issued 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 predict that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken's dividend payout ratio (DPR) is presently 27.25%.

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.