The Timken Company (NYSE:TKR) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its stake in The Timken Company (NYSE:TKR - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 203,827 shares of the industrial products company's stock after acquiring an additional 3,116 shares during the quarter. New York State Common Retirement Fund owned approximately 0.29% of Timken worth $14,547,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TKR. Vestcor Inc purchased a new stake in shares of Timken during the third quarter worth about $560,000. TT International Asset Management LTD increased its stake in Timken by 1,075.2% during the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company's stock worth $3,310,000 after buying an additional 35,932 shares in the last quarter. Barclays PLC raised its holdings in shares of Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock valued at $7,307,000 after acquiring an additional 59,716 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Timken in the third quarter valued at approximately $2,863,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Timken by 29.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company's stock worth $4,327,000 after acquiring an additional 13,697 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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Timken Trading Down 1.2 %

Shares of TKR stock traded down $0.94 during trading on Thursday, hitting $79.22. 431,319 shares of the stock traded hands, compared to its average volume of 676,840. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The firm has a market capitalization of $5.55 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 1.51 and a beta of 1.39. The firm's fifty day moving average price is $76.97 and its 200-day moving average price is $79.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, research analysts forecast that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, February 25th. Timken's dividend payout ratio (DPR) is presently 27.25%.

Insider Buying and Selling at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 90,541 shares of the company's stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley increased their price objective on Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Evercore ISI increased their target price on shares of Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Citigroup lowered their price target on shares of Timken from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Finally, DA Davidson lowered their target price on Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $92.70.

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.