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

Royal London Asset Management Ltd. lifted its holdings in The Timken Company (NYSE:TKR) by 34.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 485,318 shares of the industrial products company’s stock after acquiring an additional 125,522 shares during the period. Royal London Asset Management Ltd.’s holdings in Timken were worth $34,637,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in shares of Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after acquiring an additional 66,208 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in 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 in the last quarter. Geode Capital Management LLC lifted its position in Timken by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock worth $90,477,000 after purchasing an additional 5,970 shares during the period. Victory Capital Management Inc. grew its stake in Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after buying an additional 711,979 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Timken by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company’s stock valued at $55,928,000 after buying an additional 30,411 shares during the period. 89.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 8.70% of the company’s stock.

Timken Stock Down 1.0 %

Shares of NYSE TKR opened at $74.70 on Friday. The company has a 50 day simple moving average of $78.18 and a 200 day simple moving average of $78.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The firm has a market cap of $5.23 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37.

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 the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. On average, research analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The business also recently declared 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 1.82%. Timken’s dividend payout ratio (DPR) is presently 27.25%.

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.