New York State Teachers Retirement System Cuts Stock Holdings in The Timken Company (NYSE:TKR)

New York State Teachers Retirement System reduced its position in shares of The Timken Company (NYSE:TKR) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,688 shares of the industrial products company’s stock after selling 4,500 shares during the period. New York State Teachers Retirement System owned approximately 0.12% of Timken worth $5,759,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc purchased a new position in Timken during the third quarter worth about $560,000. TT International Asset Management LTD raised its holdings 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 purchasing an additional 35,932 shares in the last quarter. Barclays PLC raised its holdings 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 purchasing an additional 59,716 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Timken in the third quarter valued at about $2,863,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Timken by 29.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock valued at $4,327,000 after buying an additional 13,697 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and increased their target price for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Citigroup dropped their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Morgan Stanley increased their target price on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.70% of the stock is owned by company insiders.

Timken Stock Down 0.2 %

Shares of NYSE TKR opened at $83.25 on Thursday. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The firm’s 50 day moving average price is $76.34 and its 200 day moving average price is $79.30. The firm has a market cap of $5.84 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.49 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 25th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 1.63%. Timken’s dividend payout ratio (DPR) is currently 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.