New York State Teachers Retirement System Sells 7,736 Shares of The Timken Company (NYSE:TKR)

New York State Teachers Retirement System decreased its stake in The Timken Company (NYSE:TKR) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,188 shares of the industrial products company’s stock after selling 7,736 shares during the period. New York State Teachers Retirement System owned 0.12% of Timken worth $7,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TKR. Creative Planning raised its position in shares of Timken by 1.7% in the 2nd quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after acquiring an additional 150 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Timken by 3.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 155 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its stake in Timken by 1.0% in the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after buying an additional 155 shares during the period. Blue Trust Inc. boosted its holdings in shares of Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after buying an additional 166 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after buying an additional 168 shares during the period. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup started coverage on Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. DA Davidson reaffirmed a “buy” rating and set a $103.00 price objective on shares of Timken in a report on Tuesday, September 17th. Finally, Evercore ISI lowered their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $91.70.

Timken Trading Up 0.3 %

NYSE:TKR opened at $83.37 on Tuesday. The company has a 50-day moving average price of $83.01 and a 200-day moving average price of $84.00. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 1.89 and a beta of 1.43. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The Timken Company has a 12 month low of $70.15 and a 12 month high of $94.71.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.63%. Timken’s dividend payout ratio (DPR) is 27.87%.

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the sale, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at $19,671,263.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.70% of the company’s stock.

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.