Massachusetts Financial Services Co. MA Has $38.64 Million Holdings in The Timken Company (NYSE:TKR)

Massachusetts Financial Services Co. MA trimmed its stake in The Timken Company (NYSE:TKR) by 12.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 541,465 shares of the industrial products company’s stock after selling 76,257 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Timken were worth $38,644,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp boosted its holdings in shares of Timken by 0.6% in the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock worth $2,064,000 after acquiring an additional 144 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Timken by 8.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after buying an additional 158 shares during the last quarter. Amundi lifted its position in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after buying an additional 174 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in Timken by 3.4% during the 4th quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 190 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Timken by 7.8% in the fourth quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 207 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TKR has been the topic of several research reports. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Morgan Stanley raised their price objective on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Evercore ISI upped their target price on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price objective (down from $90.00) on shares of Timken in a research note on Wednesday. Finally, The Goldman Sachs Group cut their target price on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Timken presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.82.

Timken Trading Down 5.6 %

NYSE:TKR opened at $59.88 on Friday. 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 business’s 50-day simple moving average is $77.08 and its 200-day simple moving average is $77.84. The Timken Company has a fifty-two week low of $58.26 and a fifty-two week high of $94.71. The stock has a market capitalization of $4.19 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share 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%. Sell-side analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

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

Timken 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.