Janney Montgomery Scott LLC Has $7.64 Million Holdings in The Timken Company (NYSE:TKR)

Janney Montgomery Scott LLC grew its position in The Timken Company (NYSE:TKR) by 25.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,102 shares of the industrial products company’s stock after purchasing an additional 22,003 shares during the period. Janney Montgomery Scott LLC owned approximately 0.15% of Timken worth $7,644,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Timken by 34.3% in the third 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 purchasing an additional 434,800 shares during the last quarter. Verition Fund Management LLC increased its stake in Timken by 3,179.1% in the 3rd quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock valued at $16,340,000 after buying an additional 187,946 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Timken by 4.2% during the 3rd 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 in the last quarter. Point72 Asset Management L.P. acquired a new position in Timken during the second quarter valued at approximately $6,897,000. Finally, Royce & Associates LP increased its holdings in Timken by 73.2% during the third quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock worth $16,054,000 after buying an additional 80,513 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Stock Down 0.6 %

TKR stock opened at $76.65 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $5.37 billion, a PE ratio of 15.94, a P/E/G ratio of 0.99 and a beta of 1.39. The stock’s 50 day moving average is $74.90 and its 200-day moving average is $79.63. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 earnings per share. Sell-side analysts expect that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Tuesday, November 19th. Timken’s payout ratio is presently 28.27%.

Insider Activity

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Morgan Stanley raised Timken from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $82.00 to $93.00 in a report on Tuesday, December 17th. DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Oppenheimer decreased their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup cut their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.40.

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.