Royal London Asset Management Ltd. Raises Holdings in The Timken Company (NYSE:TKR)

Royal London Asset Management Ltd. grew its position in shares of The Timken Company (NYSE:TKRFree Report) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 448,186 shares of the industrial products company’s stock after purchasing an additional 6,754 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Timken were worth $32,935,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. purchased a new position in shares of Timken during the third quarter worth about $343,000. Atlantic Investment Management Inc. lifted its position in Timken by 69.4% in the third quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock valued at $38,222,000 after purchasing an additional 213,000 shares during the period. Shelton Capital Management lifted its position in Timken by 32.1% in the third quarter. Shelton Capital Management now owns 81,126 shares of the industrial products company’s stock valued at $5,962,000 after purchasing an additional 19,723 shares during the period. AQR Capital Management LLC lifted its position in Timken by 16.8% in the third quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock valued at $56,159,000 after purchasing an additional 109,767 shares during the period. Finally, Stansberry Asset Management LLC acquired a new stake in Timken in the third quarter valued at about $16,422,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TKR. Stifel Nicolaus reduced their price objective on shares of Timken from $93.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, December 19th. Morgan Stanley began coverage on shares of Timken in a research report on Monday, January 8th. They set an “equal weight” rating and a $74.00 price target for the company. The Goldman Sachs Group lifted their price target on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a research report on Tuesday, February 20th. Finally, StockNews.com downgraded shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Timken presently has a consensus rating of “Hold” and a consensus price target of $85.60.

Check Out Our Latest Stock Analysis on TKR

Timken Stock Up 1.0 %

Shares of TKR opened at $85.87 on Friday. The firm has a market cap of $6.02 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.54. The company’s fifty day moving average is $81.08 and its two-hundred day moving average is $76.32. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKRGet Free Report) last posted its earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $1.22 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. Analysts forecast that The Timken Company will post 6 earnings per share for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a yield of 1.54%. Timken’s dividend payout ratio is currently 24.18%.

About Timken

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Timken Company (NYSE:TKRFree Report).

Institutional Ownership by Quarter for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.