The Timken Company (NYSE:TKR) Stock Holdings Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in The Timken Company (NYSE:TKR - Free Report) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 617,722 shares of the industrial products company's stock after selling 28,411 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.88% of Timken worth $52,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TKR. American Century Companies Inc. increased its holdings in Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company's stock worth $225,750,000 after buying an additional 128,791 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company's stock worth $225,880,000 after buying an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company's stock worth $168,667,000 after purchasing an additional 97,550 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Timken by 2.1% during the 2nd quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company's stock valued at $105,957,000 after purchasing an additional 26,671 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Timken by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 529,161 shares of the industrial products company's stock worth $42,402,000 after buying an additional 3,462 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Price Performance

Shares of NYSE:TKR traded up $2.25 during trading on Monday, hitting $78.21. 185,867 shares of the stock were exchanged, compared to its average volume of 486,781. The company has a fifty day moving average price of $81.45 and a two-hundred day moving average price of $82.80. The company has a market cap of $5.48 billion, a PE ratio of 16.23, a P/E/G ratio of 1.13 and a beta of 1.43. 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 Timken Company has a 12-month low of $71.57 and a 12-month high of $94.71.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly 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 firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the firm earned $1.55 EPS. Timken's revenue was down 1.4% compared to the same quarter last year. On average, analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.74%. Timken's payout ratio is 28.27%.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was 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 directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.70% of the company's stock.

Analyst Upgrades and Downgrades

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

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.