New York State Common Retirement Fund Purchases 27,515 Shares of Timken Company (The) $TKR

New York State Common Retirement Fund raised its position in Timken Company (The) (NYSE:TKR) by 6.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 461,129 shares of the industrial products company’s stock after purchasing an additional 27,515 shares during the period. New York State Common Retirement Fund’s holdings in Timken were worth $34,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Timken in the third quarter valued at about $25,000. SJS Investment Consulting Inc. grew its position in shares of Timken by 4,512.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 369 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 361 shares in the last quarter. CWM LLC increased its holdings in shares of Timken by 31.4% during the second quarter. CWM LLC now owns 527 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 126 shares during the period. Kestra Investment Management LLC bought a new position in shares of Timken during the second quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Timken by 1,954.3% in the second quarter. EverSource Wealth Advisors LLC now owns 719 shares of the industrial products company’s stock valued at $52,000 after buying an additional 684 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 related news, Director Richard G. Kyle sold 15,837 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $81.03, for a total transaction of $1,283,272.11. Following the sale, the director owned 266,942 shares in the company, valued at $21,630,310.26. The trade was a 5.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Timken in a research report on Wednesday, January 21st. Wall Street Zen raised Timken from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. boosted their price target on Timken from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Oppenheimer increased their price objective on shares of Timken from $90.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, DA Davidson raised their target price on shares of Timken from $80.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Timken has a consensus rating of “Hold” and an average price target of $85.30.

Timken Trading Down 1.1%

TKR opened at $93.10 on Friday. The company has a market cap of $6.48 billion, a P/E ratio of 22.01, a PEG ratio of 1.84 and a beta of 1.21. The company has a current ratio of 3.11, a quick ratio of 1.71 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $87.48 and its 200-day moving average is $80.53. Timken Company has a 1-year low of $56.20 and a 1-year high of $95.19.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.25 by $0.12. Timken had a net margin of 6.54% and a return on equity of 11.88%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, November 25th. Timken’s dividend payout ratio is presently 33.10%.

Timken Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.