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

Massachusetts Financial Services Co. MA lessened its position in The Timken Company (NYSE:TKR) by 12.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 541,465 shares of the industrial products company’s stock after selling 76,257 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.77% of Timken worth $38,644,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hilltop Holdings Inc. increased its holdings in shares of Timken by 59.1% in the third quarter. Hilltop Holdings Inc. now owns 4,001 shares of the industrial products company’s stock valued at $337,000 after buying an additional 1,487 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of Timken by 0.6% during the third quarter. Royal London Asset Management Ltd. now owns 359,796 shares of the industrial products company’s stock worth $30,327,000 after purchasing an additional 2,298 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Timken by 5.9% during the third quarter. Quantinno Capital Management LP now owns 52,948 shares of the industrial products company’s stock valued at $4,463,000 after purchasing an additional 2,949 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Timken by 15.1% in the 3rd quarter. Stifel Financial Corp now owns 60,868 shares of the industrial products company’s stock valued at $5,130,000 after purchasing an additional 7,999 shares during the period. Finally, State Street Corp increased its stake in Timken by 3.5% in the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after purchasing an additional 66,208 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Trading Down 5.6 %

NYSE:TKR opened at $59.88 on Friday. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $77.08 and its 200-day moving average is $77.84. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.51 and a beta of 1.28. The Timken Company has a 12 month low of $58.26 and a 12 month high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.27%. Timken’s dividend payout ratio is currently 27.25%.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TKR. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday. 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 research note on Wednesday, February 19th. Citigroup cut their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley upped their price target on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Bank of America raised Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.82.

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.