Franklin Resources Inc. Purchases 44,695 Shares of The Timken Company (NYSE:TKR)

Franklin Resources Inc. increased its position in shares of The Timken Company (NYSE:TKRGet Rating) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,134,186 shares of the industrial products company’s stock after acquiring an additional 44,695 shares during the period. Franklin Resources Inc. owned approximately 2.91% of Timken worth $113,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Timken by 12.2% during the 1st quarter. Victory Capital Management Inc. now owns 100,452 shares of the industrial products company’s stock worth $6,043,000 after acquiring an additional 10,950 shares during the period. M&T Bank Corp increased its holdings in Timken by 3.8% during the 1st quarter. M&T Bank Corp now owns 13,395 shares of the industrial products company’s stock worth $813,000 after acquiring an additional 489 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Timken in the 2nd quarter worth $811,000. New York State Common Retirement Fund increased its holdings in shares of Timken by 1.2% in the 1st quarter. New York State Common Retirement Fund now owns 422,946 shares of the industrial products company’s stock worth $25,673,000 after buying an additional 5,032 shares during the last quarter. Finally, Brandywine Oak Private Wealth LLC increased its holdings in shares of Timken by 43.3% in the 2nd quarter. Brandywine Oak Private Wealth LLC now owns 5,893 shares of the industrial products company’s stock worth $312,000 after buying an additional 1,782 shares during the last quarter. Institutional investors own 81.39% of the company’s stock.

Insider Buying and Selling at Timken

In other Timken news, EVP Christopher A. Coughlin sold 15,000 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the completion of the sale, the executive vice president now owns 103,140 shares of the company’s stock, valued at approximately $7,146,570.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Richard G. Kyle sold 15,873 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $70.29, for a total value of $1,115,713.17. Following the completion of the sale, the chief executive officer now directly owns 339,843 shares of the company’s stock, valued at approximately $23,887,564.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christopher A. Coughlin sold 15,000 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the completion of the sale, the executive vice president now directly owns 103,140 shares of the company’s stock, valued at $7,146,570.60. The disclosure for this sale can be found here. Insiders sold 67,244 shares of company stock valued at $4,853,869 in the last quarter. Company insiders own 10.79% of the company’s stock.

Timken Price Performance

TKR stock opened at $74.57 on Thursday. The firm has a market cap of $5.42 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.06 and a beta of 1.58. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 2.03. The firm’s fifty day moving average is $67.01 and its 200 day moving average is $62.72. The Timken Company has a 52 week low of $50.85 and a 52 week high of $75.80.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Monday, November 21st will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $1.24 annualized dividend and a yield of 1.66%. Timken’s payout ratio is currently 24.90%.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of research analyst reports. Citigroup increased their price target on shares of Timken to $78.00 in a report on Tuesday, November 1st. Morgan Stanley increased their price target on shares of Timken from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 27th. StockNews.com raised shares of Timken from a “buy” rating to a “strong-buy” rating in a report on Friday, October 28th. Oppenheimer increased their target price on shares of Timken from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, September 30th. Finally, KeyCorp increased their target price on shares of Timken from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Monday. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.63.

Timken Profile

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The Timken Company designs, manufactures, and manages engineered bearings and power transmission products 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 Timken (NYSE:TKR)

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