Jennison Associates LLC Buys New Holdings in The Timken Company (NYSE:TKR)


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Jennison Associates LLC bought a new stake in The Timken Company (NYSE:TKR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,591 shares of the industrial products company’s stock, valued at approximately $1,206,000.

Other large investors have also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new stake in The Timken in the 4th quarter valued at about $14,025,000. Raymond James & Associates acquired a new stake in The Timken in the 3rd quarter valued at about $4,512,000. Janney Montgomery Scott LLC lifted its position in The Timken by 8.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,365 shares of the industrial products company’s stock worth $647,000 after acquiring an additional 626 shares during the last quarter. Shelton Capital Management acquired a new stake in The Timken during the third quarter worth approximately $221,000. Finally, Huntington National Bank lifted its position in The Timken by 15.0% during the third quarter. Huntington National Bank now owns 5,288 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 688 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Several equities research analysts have issued reports on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on shares of The Timken from $75.00 to $95.00 in a research report on Thursday, January 7th. Vertical Research assumed coverage on shares of The Timken in a research report on Wednesday, January 20th. They set a “hold” rating for the company. Smith Barney Citigroup raised their price objective on shares of The Timken from $75.00 to $95.00 in a research report on Thursday, January 7th. Evercore ISI downgraded shares of The Timken to an “outperform” rating in a research report on Tuesday, February 16th. Finally, Bank of America raised their price objective on shares of The Timken from $76.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, November 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The Timken has an average rating of “Buy” and a consensus price target of $88.57.

Shares of TKR opened at $75.52 on Tuesday. The Timken Company has a 12 month low of $22.25 and a 12 month high of $86.44. The firm’s 50 day moving average is $78.99 and its 200-day moving average is $67.34. The stock has a market capitalization of $5.72 billion, a PE ratio of 16.71, a P/E/G ratio of 4.03 and a beta of 1.77. The company has a current ratio of 2.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.73.

The Timken (NYSE:TKR) last announced its earnings results on Thursday, February 4th. The industrial products company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.09). The Timken had a return on equity of 15.77% and a net margin of 9.80%. The business had revenue of $891.70 million for the quarter, compared to the consensus estimate of $874.21 million. During the same period in the prior year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that The Timken Company will post 4.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 4th. Stockholders of record on Monday, February 22nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 19th. This is a boost from The Timken’s previous quarterly dividend of $0.25. This represents a $1.16 annualized dividend and a dividend yield of 1.54%. The Timken’s dividend payout ratio (DPR) is currently 25.22%.

In related news, CEO Richard G. Kyle sold 57,221 shares of The Timken stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $73.84, for a total value of $4,225,198.64. Following the transaction, the chief executive officer now directly owns 244,080 shares of the company’s stock, valued at $18,022,867.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.62% of the company’s stock.

The Timken Company Profile

The Timken Company designs, manufactures, and manages engineered bearings and power transmission products and services worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Institutional Ownership by Quarter for The Timken (NYSE:TKR)

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