Royal London Asset Management Ltd. Has $34.64 Million Stake in The Timken Company (NYSE:TKR)

Royal London Asset Management Ltd. grew its stake in The Timken Company (NYSE:TKR) by 34.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 485,318 shares of the industrial products company’s stock after acquiring an additional 125,522 shares during the quarter. Royal London Asset Management Ltd. owned 0.69% of Timken worth $34,637,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TKR. Fairway Wealth LLC acquired a new position in Timken during the fourth quarter valued at approximately $29,000. Amundi grew its holdings in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares during the period. Brooklyn Investment Group bought a new stake in shares of Timken in the 3rd quarter valued at $74,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Timken during the 4th quarter worth $109,000. Finally, AlphaQuest LLC lifted its holdings in shares of Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 1,559 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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 shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

Timken Stock Down 1.0 %

Shares of TKR stock opened at $74.70 on Friday. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.51 and a beta of 1.37. The firm’s 50-day moving average is $78.18 and its 200-day moving average is $78.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating 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 predict 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. Shareholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 1.82%. Timken’s dividend payout ratio (DPR) is 27.25%.

Analyst Ratings Changes

TKR has been the topic of several research analyst reports. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Evercore ISI upped their target price on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp reissued a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Morgan Stanley upped their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Timken 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.