New York State Common Retirement Fund Boosts Stake in Timken Company (The) (NYSE:TKR)

New York State Common Retirement Fund raised its position in Timken Company (The) (NYSE:TKR - Free Report) by 108.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 424,121 shares of the industrial products company's stock after buying an additional 220,294 shares during the period. New York State Common Retirement Fund owned 0.61% of Timken worth $30,482,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Sterling Capital Management LLC boosted its holdings in Timken by 79.4% in the 4th quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company's stock worth $1,915,000 after buying an additional 11,876 shares during the period. GAMMA Investing LLC increased its position in shares of Timken by 282.3% in the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after acquiring an additional 847 shares during the period. Teacher Retirement System of Texas increased its position in shares of Timken by 77.8% in the first quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock valued at $856,000 after acquiring an additional 5,212 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Timken in the fourth quarter valued at about $14,460,000. Finally, State of Alaska Department of Revenue increased its position in shares of Timken by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock valued at $2,523,000 after acquiring an additional 190 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Stock Down 0.4%

NYSE TKR traded down $0.35 during mid-day trading on Friday, reaching $78.79. The stock had a trading volume of 331,003 shares, compared to its average volume of 584,986. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.15 and a quick ratio of 1.71. Timken Company has a 1 year low of $56.20 and a 1 year high of $90.49. The stock has a market cap of $5.51 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.82 and a beta of 1.27. The company has a fifty day moving average price of $72.82 and a 200 day moving average price of $72.76.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.03). The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. Timken had a net margin of 7.24% and a return on equity of 12.62%. Timken's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 EPS. On average, research analysts expect that Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were paid a $0.35 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.78%. This is a boost from Timken's previous quarterly dividend of $0.34. Timken's payout ratio is presently 30.17%.

Analysts Set New Price Targets

TKR has been the topic of several research analyst reports. DA Davidson boosted their price target on shares of Timken from $66.00 to $71.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. The Goldman Sachs Group reduced their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley lowered their target price on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Oppenheimer lowered their target price on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI lowered their target price on shares of Timken from $102.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Timken presently has an average rating of "Hold" and an average price target of $79.00.

Timken 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.