The Timken Company (NYSE:TKR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in The Timken Company (NYSE:TKR - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 210,263 shares of the industrial products company's stock after selling 26,457 shares during the quarter. New York State Common Retirement Fund owned 0.30% of Timken worth $16,853,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Anchor Investment Management LLC bought a new stake in Timken during the 4th quarter valued at $58,000. CWM LLC raised its holdings in Timken by 50.0% during the 3rd quarter. CWM LLC now owns 906 shares of the industrial products company's stock valued at $67,000 after buying an additional 302 shares during the last quarter. Amica Retiree Medical Trust bought a new stake in Timken during the 3rd quarter valued at $75,000. Ramirez Asset Management Inc. bought a new stake in Timken during the 3rd quarter valued at $81,000. Finally, Quent Capital LLC raised its holdings in Timken by 50.4% during the 4th quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company's stock valued at $82,000 after buying an additional 341 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Stock Up 2.0 %

TKR stock traded up $1.70 during trading on Monday, hitting $86.68. 881,835 shares of the stock traded hands, compared to its average volume of 493,135. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The firm's 50 day moving average is $85.43 and its two-hundred day moving average is $79.59. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.18 and a beta of 1.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 0.96.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $1.22 EPS. Timken's revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that The Timken Company will post 6.02 EPS for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, February 16th. Timken's dividend payout ratio (DPR) is 24.18%.

Analysts Set New Price Targets

TKR has been the subject of a number of recent analyst reports. Evercore ISI lowered shares of Timken from an "outperform" rating to an "in-line" rating and set a $84.00 price target for the company. in a report on Tuesday, February 20th. Oppenheimer restated an "outperform" rating and issued a $100.00 price objective (up from $97.00) on shares of Timken in a report on Thursday, March 21st. StockNews.com lowered shares of Timken from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. DA Davidson assumed coverage on shares of Timken in a report on Tuesday, January 23rd. They issued a "buy" rating and a $92.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on shares of Timken from $78.00 to $87.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $85.90.

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.