Massachusetts Financial Services Co. MA Has $38.64 Million Stock Holdings in The Timken Company (NYSE:TKR)

Massachusetts Financial Services Co. MA decreased its position in shares of The Timken Company (NYSE:TKR - Free Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 541,465 shares of the industrial products company's stock after selling 76,257 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.77% of Timken worth $38,644,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Timken by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company's stock worth $461,461,000 after acquiring an additional 26,973 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Timken by 11.3% during the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock worth $225,436,000 after purchasing an additional 320,354 shares during the period. State Street Corp raised its holdings in shares of Timken by 3.5% in the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company's stock valued at $164,689,000 after buying an additional 66,208 shares during the period. Geode Capital Management LLC boosted its stake in shares of Timken by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company's stock valued at $90,477,000 after purchasing an additional 5,970 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Timken by 418.4% in the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock valued at $62,959,000 after purchasing an additional 711,979 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

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Wall Street Analysts Forecast Growth

TKR has been the topic of a number of research analyst reports. Evercore ISI raised their price objective on shares of Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Jefferies Financial Group reiterated a "hold" rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Citigroup cut their price target on shares of Timken from $95.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday. Morgan Stanley boosted their target price on Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group cut their price objective on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $87.45.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Timken Stock Performance

Shares of NYSE TKR traded down $4.20 during trading hours on Thursday, hitting $59.41. 248,855 shares of the stock were exchanged, compared to its average volume of 544,854. The company's 50 day moving average is $75.26 and its 200 day moving average is $77.08. The Timken Company has a one year low of $54.08 and a one year high of $94.71. The firm has a market capitalization of $4.16 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.51 and a beta of 1.28. 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 released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS 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%. On average, research analysts expect that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken's dividend 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.