Price T Rowe Associates Inc. MD Grows Stock Holdings in The Timken Company (NYSE:TKR)

Price T Rowe Associates Inc. MD grew its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,951 shares of the industrial products company's stock after buying an additional 10,280 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.13% of Timken worth $6,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC grew its stake in shares of Timken by 79.4% in the fourth quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock worth $1,915,000 after purchasing an additional 11,876 shares during the last quarter. Barclays PLC grew its position in shares of Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock worth $7,307,000 after buying an additional 59,716 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Timken by 29.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company's stock valued at $4,327,000 after buying an additional 13,697 shares during the period. Raymond James Financial Inc. purchased a new stake in Timken in the fourth quarter worth $14,460,000. Finally, Janney Montgomery Scott LLC lifted its stake in Timken by 25.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock worth $7,644,000 after acquiring an additional 22,003 shares during the period. Institutional investors own 89.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Jefferies Financial Group reissued a "hold" rating and issued a $70.00 target price (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. DA Davidson increased their price objective on Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a report on Monday. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group decreased their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $79.70.

Insider Activity at Timken

In other Timken 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 value of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 8.70% of the stock is owned by company insiders.

Timken Stock Performance

NYSE:TKR traded down $0.07 during mid-day trading on Tuesday, reaching $66.29. The company's stock had a trading volume of 752,020 shares, compared to its average volume of 558,219. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The stock has a market cap of $4.64 billion, a P/E ratio of 13.28, a PEG ratio of 1.51 and a beta of 1.30. The firm's fifty day moving average price is $68.37 and its two-hundred day moving average price is $74.35. The Timken Company has a 12-month low of $56.20 and a 12-month high of $93.66.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). Timken had a net margin of 7.71% and a return on equity of 13.93%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts forecast that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Tuesday, May 13th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.11%. This is a positive change from Timken's previous quarterly dividend of $0.34. Timken's payout ratio is presently 30.17%.

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.