Teacher Retirement System of Texas Has $478,000 Stake in The Timken Company (NYSE:TKR)

Teacher Retirement System of Texas reduced its position in shares of The Timken Company (NYSE:TKR - Free Report) by 54.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,700 shares of the industrial products company's stock after selling 7,929 shares during the period. Teacher Retirement System of Texas' holdings in Timken were worth $478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in Timken by 3.5% in the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company's stock valued at $164,689,000 after acquiring an additional 66,208 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings 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 purchasing an additional 434,800 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $90,477,000 after purchasing an additional 5,970 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock worth $62,959,000 after purchasing an additional 711,979 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Timken by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company's stock valued at $55,928,000 after purchasing an additional 30,411 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several brokerages have commented on TKR. Morgan Stanley boosted their price target on shares of Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. The Goldman Sachs Group dropped their target price on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday. Evercore ISI raised their price target on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday. Finally, Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $88.82.

Timken Stock Performance

Timken stock traded down $2.37 during mid-day trading on Friday, hitting $61.04. 944,269 shares of the company's stock traded hands, compared to its average volume of 530,078. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The firm has a 50 day simple moving average of $77.42 and a two-hundred day simple moving average of $78.01. The Timken Company has a fifty-two week low of $58.37 and a fifty-two week high of $94.71. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly 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 net margin of 7.71% and a return on equity of 13.93%. On average, research analysts expect that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.23%. The ex-dividend date was Tuesday, February 25th. Timken's payout ratio is 27.25%.

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is owned by insiders.

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.