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

Franklin Resources Inc. raised its position in shares of The Timken Company (NYSE:TKRGet Rating) by 2.1% in the second quarter, Holdings Channel reports. The firm owned 2,134,186 shares of the industrial products company’s stock after acquiring an additional 44,695 shares during the quarter. Franklin Resources Inc.’s holdings in Timken were worth $113,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TKR. Venture Visionary Partners LLC bought a new stake in shares of Timken in the second quarter worth approximately $35,000. Janiczek Wealth Management LLC grew its stake in shares of Timken by 222.9% in the second quarter. Janiczek Wealth Management LLC now owns 678 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 468 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Timken in the second quarter worth approximately $62,000. Point72 Hong Kong Ltd bought a new stake in shares of Timken in the first quarter worth approximately $76,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of Timken in the first quarter worth approximately $208,000. 81.39% of the stock is currently owned by institutional investors.

Insider Transactions at Timken

In other news, Director Jacqueline F. Woods sold 1,798 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $74.64, for a total value of $134,202.72. Following the transaction, the director now owns 14,770 shares of the company’s stock, valued at $1,102,432.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $69.29, for a total value of $1,039,350.00. Following the transaction, the executive vice president now owns 103,140 shares of the company’s stock, valued at $7,146,570.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jacqueline F. Woods sold 1,798 shares of the business’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $74.64, for a total transaction of $134,202.72. Following the completion of the transaction, the director now directly owns 14,770 shares in the company, valued at approximately $1,102,432.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,244 shares of company stock valued at $4,853,869. 10.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TKR shares. Morgan Stanley lifted their price target on shares of Timken from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note 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 raised their price objective on shares of Timken from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, September 30th. Citigroup raised their price objective on shares of Timken to $78.00 in a report on Tuesday, November 1st. Finally, KeyCorp raised their price objective on shares of Timken from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Timken currently has an average rating of “Moderate Buy” and an average target price of $76.63.

Timken Price Performance

Shares of NYSE:TKR opened at $74.57 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.03 and a quick ratio of 1.09. The Timken Company has a 1-year low of $50.85 and a 1-year high of $75.80. The company has a market capitalization 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 firm’s 50 day simple moving average is $67.01 and its two-hundred day simple moving average is $62.72.

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 issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, November 18th. Timken’s dividend payout ratio is currently 24.90%.

About Timken

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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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