The Timken Company (NYSE:TKR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 10.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 119,757 shares of the industrial products company's stock after selling 13,548 shares during the period. California Public Employees Retirement System owned 0.17% of Timken worth $9,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Duality Advisers LP lifted its stake in shares of Timken by 226.3% during the 4th quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company's stock valued at $2,227,000 after buying an additional 19,274 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Timken by 5.6% in the fourth quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company's stock worth $6,999,000 after buying an additional 4,598 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Timken during the fourth quarter worth $293,000. Louisiana State Employees Retirement System purchased a new position in Timken during the fourth quarter valued at $1,459,000. Finally, WCM Investment Management LLC increased its holdings in Timken by 8.7% in the 4th quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company's stock valued at $16,443,000 after acquiring an additional 16,322 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Trading Up 0.4 %

TKR stock traded up $0.34 during midday trading on Friday, reaching $89.51. The company's stock had a trading volume of 408,980 shares, compared to its average volume of 507,197. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.19 and a beta of 1.51. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.87. The stock has a fifty day simple moving average of $85.95 and a two-hundred day simple moving average of $79.84.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.50 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm's revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.09 EPS. On average, equities research analysts predict that The Timken Company will post 6.13 EPS for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.47%. Timken's payout ratio is 25.14%.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of research reports. Loop Capital increased their price target on Timken from $78.00 to $87.00 and gave the company a "hold" rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on shares of Timken from $92.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley assumed coverage on shares of Timken in a research report on Monday, January 8th. They set an "equal weight" rating and a $74.00 price objective for the company. Oppenheimer restated an "outperform" rating and issued a $100.00 target price (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Finally, StockNews.com downgraded shares of Timken from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Timken presently has a consensus rating of "Hold" and a consensus target price of $87.09.

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.