New York State Teachers Retirement System Sells 4,500 Shares of The Timken Company (NYSE:TKR)

New York State Teachers Retirement System lessened its position in shares of The Timken Company (NYSE:TKR - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings in shares of Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company's stock worth $225,880,000 after acquiring an additional 107,350 shares during the period. State Street Corp raised its position in shares of Timken by 3.5% in the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company's stock valued at $164,689,000 after buying an additional 66,208 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock valued at $143,376,000 after buying an additional 434,800 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Timken by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company's stock valued at $90,477,000 after buying an additional 5,970 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Timken by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 649,952 shares of the industrial products company's stock valued at $54,784,000 after buying an additional 1,989 shares in the last quarter. Institutional investors own 89.08% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TKR. Jefferies Financial Group upgraded shares of Timken from a "hold" rating to a "buy" rating and lifted their price target for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Oppenheimer decreased their target price on shares of Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Finally, DA Davidson reduced their price objective on shares of Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.70.

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.70% of the stock is owned by insiders.

Timken Stock Down 3.0 %

NYSE:TKR traded down $2.54 on Friday, hitting $81.26. The stock had a trading volume of 557,574 shares, compared to its average volume of 730,726. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The stock has a market cap of $5.70 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.39. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The firm's fifty day simple moving average is $76.61 and its two-hundred day simple moving average is $79.33.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating 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%. Analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 25th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, February 25th. Timken's dividend payout ratio (DPR) is presently 27.25%.

Timken Company 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.