Legal & General Group Plc Increases Stake in Timken Co (TKR)

Legal & General Group Plc lifted its position in Timken Co (NYSE:TKR) by 5.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 94,098 shares of the industrial products company’s stock after purchasing an additional 5,219 shares during the period. Legal & General Group Plc owned about 0.12% of Timken worth $4,569,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Timken by 15.0% in the second quarter. Vanguard Group Inc. now owns 7,048,216 shares of the industrial products company’s stock worth $325,981,000 after purchasing an additional 917,902 shares during the last quarter. BlackRock Inc. boosted its holdings in Timken by 1.3% in the second quarter. BlackRock Inc. now owns 5,746,878 shares of the industrial products company’s stock valued at $265,793,000 after acquiring an additional 72,454 shares in the last quarter. Earnest Partners LLC boosted its holdings in Timken by 15.0% in the second quarter. Earnest Partners LLC now owns 1,969,876 shares of the industrial products company’s stock valued at $91,107,000 after acquiring an additional 257,073 shares in the last quarter. State Street Corp boosted its holdings in Timken by 0.5% in the second quarter. State Street Corp now owns 1,922,313 shares of the industrial products company’s stock valued at $88,912,000 after acquiring an additional 9,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Timken by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,840,408 shares of the industrial products company’s stock valued at $85,117,000 after acquiring an additional 33,838 shares in the last quarter. Hedge funds and other institutional investors own 78.90% of the company’s stock.

In other news, insider Richard G. Kyle sold 9,242 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the sale, the insider now owns 89,236 shares in the company, valued at approximately $4,439,491. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 11.08% of the company’s stock.

Several research firms recently weighed in on TKR. Jefferies Group reiterated a “hold” rating and issued a $50.00 price target on shares of Timken in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Thursday, September 28th. Finally, Longbow Research upgraded shares of Timken from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.00.

Timken Co (NYSE TKR) traded up $1.15 during trading hours on Thursday, reaching $51.85. 394,054 shares of the company traded hands, compared to its average volume of 608,577. The company has a market capitalization of $4,020.00, a PE ratio of 20.66, a P/E/G ratio of 1.44 and a beta of 1.50. Timken Co has a twelve month low of $41.78 and a twelve month high of $53.10. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Timken had a net margin of 6.88% and a return on equity of 13.75%. The firm had revenue of $771.40 million for the quarter, compared to analysts’ expectations of $758.91 million. During the same quarter in the previous year, the business posted $0.53 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. analysts predict that Timken Co will post 2.62 earnings per share for the current fiscal year.

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Timken Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Institutional Ownership by Quarter for Timken (NYSE:TKR)

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