New York State Teachers Retirement System Has $7.18 Million Stock Position in The Timken Company (NYSE:TKR)

New York State Teachers Retirement System trimmed its stake in The Timken Company (NYSE:TKR - Free Report) by 8.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,188 shares of the industrial products company's stock after selling 7,736 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Timken worth $7,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Creative Planning grew its position in Timken by 1.7% during the second quarter. Creative Planning now owns 9,123 shares of the industrial products company's stock valued at $731,000 after purchasing an additional 150 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Timken by 3.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company's stock worth $407,000 after acquiring an additional 155 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its position in Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company's stock valued at $1,282,000 after purchasing an additional 155 shares during the last quarter. Blue Trust Inc. increased its position in Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company's stock worth $80,000 after purchasing an additional 166 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 168 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Timken

In other news, CEO Richard G. Kyle sold 30,000 shares of the company's stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,485 shares of the company's stock, valued at $19,671,263.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Timken Trading Down 13.0 %

Shares of NYSE:TKR traded down $10.87 during trading on Tuesday, hitting $72.50. 1,697,409 shares of the company's stock were exchanged, compared to its average volume of 473,942. The firm has a 50-day moving average price of $82.98 and a two-hundred day moving average price of $84.00. The Timken Company has a 1-year low of $70.15 and a 1-year high of $94.71. The firm has a market cap of $5.09 billion, a P/E ratio of 16.13, a PEG ratio of 1.89 and a beta of 1.43. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Tuesday, August 20th. Timken's dividend payout ratio (DPR) is currently 27.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. DA Davidson reissued a "buy" rating and issued a $103.00 price objective on shares of Timken in a research note on Tuesday, September 17th. Evercore ISI lowered their price target on Timken from $94.00 to $87.00 and set an "in-line" rating on the stock in a research report on Monday, August 19th. Finally, Citigroup assumed coverage on shares of Timken in a research note on Monday, October 14th. They issued a "neutral" rating and a $90.00 target price for the company. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $91.70.

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.