The Timken Company (NYSE:TKR) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in shares of The Timken Company (NYSE:TKR) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,158,690 shares of the industrial products company’s stock after purchasing an additional 320,354 shares during the period. American Century Companies Inc. owned 4.50% of Timken worth $225,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vestcor Inc purchased a new stake in Timken during the third quarter worth approximately $560,000. TT International Asset Management LTD grew its stake in Timken by 1,075.2% during the third quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock worth $3,310,000 after buying an additional 35,932 shares during the period. Barclays PLC grew its stake in Timken by 221.6% during the third 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 period. Harbor Capital Advisors Inc. grew its stake in Timken by 29.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after buying an additional 13,697 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Timken during the third quarter worth approximately $734,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TKR shares. Citigroup decreased their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and upped their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. 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 note on Wednesday, February 19th. Morgan Stanley upped their target price 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. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Four investment 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, Timken presently has an average rating of “Moderate Buy” and an average price target of $92.70.

Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is owned by corporate insiders.

Timken Trading Down 0.4 %

TKR opened at $74.35 on Friday. The stock has a market capitalization of $5.20 billion, a PE ratio of 14.90, a P/E/G ratio of 1.51 and a beta of 1.37. The firm’s fifty day moving average price is $78.21 and its 200 day moving average price is $78.44. 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 12-month low of $69.35 and a 12-month high of $94.71.

Timken (NYSE:TKR) last posted 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%. As a group, research analysts expect that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.83%. Timken’s dividend payout ratio (DPR) is 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.