State of New Jersey Common Pension Fund D Boosts Stock Position in The Timken Company (NYSE:TKR)

State of New Jersey Common Pension Fund D lifted its position in shares of The Timken Company (NYSE:TKR - Free Report) by 22.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,560 shares of the industrial products company's stock after purchasing an additional 5,163 shares during the period. State of New Jersey Common Pension Fund D's holdings in Timken were worth $2,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TKR. Coastline Trust Co purchased a new stake in Timken in the 3rd quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new stake in shares of Timken in the 3rd quarter worth approximately $74,000. Blue Trust Inc. lifted its stake in Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company's stock valued at $80,000 after buying an additional 166 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Timken by 230.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company's stock valued at $92,000 after buying an additional 759 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Timken by 20.0% in the 3rd quarter. Covestor Ltd now owns 1,786 shares of the industrial products company's stock valued at $151,000 after buying an additional 298 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Insider Buying and Selling at Timken

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

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Timken Price Performance

Shares of TKR traded down $0.94 during mid-day trading on Thursday, hitting $79.22. 431,319 shares of the company traded hands, compared to its average volume of 676,840. The Timken Company has a one year low of $69.35 and a one year high of $94.71. 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 business has a 50-day moving average of $76.97 and a 200 day moving average of $79.31. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.51 and a beta of 1.39.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) 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%. As a group, equities analysts expect 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. Investors of record on Tuesday, February 25th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, February 25th. Timken's payout ratio is 27.25%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. DA Davidson reduced their price target on Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Evercore ISI increased their price target on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Oppenheimer lowered their target price on Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and lifted their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Finally, Citigroup decreased their price target on Timken from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Timken currently has an average rating of "Moderate Buy" and an average price target 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.