New York State Common Retirement Fund Increases Stock Position in The Timken Company (NYSE:TKR)

New York State Common Retirement Fund increased its holdings in shares of The Timken Company (NYSE:TKR) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 203,827 shares of the industrial products company’s stock after purchasing an additional 3,116 shares during the period. New York State Common Retirement Fund’s holdings in Timken were worth $14,547,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. M&T Bank Corp increased its holdings in shares of Timken by 0.6% in the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after acquiring an additional 144 shares during the period. Blue Trust Inc. boosted its position in Timken by 20.0% during the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 166 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Timken by 3.8% in the third quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 168 shares during the last quarter. Winslow Asset Management Inc. raised its holdings in Timken by 3.6% in the third quarter. Winslow Asset Management Inc. now owns 5,050 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 175 shares in the last quarter. Finally, WESCAP Management Group Inc. lifted its position in shares of Timken by 1.1% during the third quarter. WESCAP Management Group Inc. now owns 17,433 shares of the industrial products company’s stock valued at $1,469,000 after buying an additional 186 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TKR has been the topic of several analyst reports. Citigroup cut their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. KeyCorp reissued a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Jefferies Financial Group raised 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 report on Friday, December 6th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, Evercore ISI upped their price objective on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Timken has an average rating of “Moderate Buy” and an average price target of $92.70.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Timken Stock Performance

NYSE TKR opened at $81.26 on Monday. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The stock has a 50-day moving average of $76.61 and a 200 day moving average of $79.32. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.51 and a beta of 1.39.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping 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%. Sell-side analysts anticipate that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 25th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Tuesday, February 25th. Timken’s dividend payout ratio is presently 27.25%.

About Timken

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.