1 week Ago By ABMN Staff
California Public Employees Retirement System trimmed its holdings in The Timken Company ( NYSE:TKR – Free Report ) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,059 shares of the industrial products company’s stock after selling 3,543 shares during the period.
California Public Employees Retirement System’s holdings in Timken were worth $8,783,000 as of its most recent filing with the Securities and Exchange Commission. A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc.
grew its position in shares of Timken by 418.4% in the fourth quarter. Victory Capital Management Inc.
now owns 882,156 shares of the industrial products company’s stock valued at $62,959,000 after purchasing an additional 711,979 shares in the last quarter. Norges Bank purchased a new position in Timken during the 4th quarter valued at about $42,748,000. American Century Companies Inc.
increased its position in shares of Timken by 11.3% during the fourth quarter. American Century Companies Inc.
now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after buying an additional 320,354 shares during the period. Royce & Associates LP lifted its holdings in shares of Timken by 108.9% in the fourth quarter.
Royce & Associates LP now owns 397,895 shares of the industrial products company’s stock worth $28,398,000 after buying an additional 207,439 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Timken in the fourth quarter valued at approximately $14,460,000.
Institutional investors own 89.08% of the company’s stock. Analyst Ratings Changes A number of research firms recently weighed in on TKR.
Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th.
The Goldman Sachs Group decreased their price target on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd.
Jefferies Financial Group reissued a “hold” rating and set a $70.00 price objective (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd.
Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th.
Finally, Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th.
Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.82.
Insider Activity In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.
50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.
50. The trade was a 5.23 % decrease in their ownership of the stock.
The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link . 8.70% of the stock is currently owned by corporate insiders.
Timken Stock Down 5.6 % Shares of TKR opened at $59.88 on Monday.
The Timken Company has a 1 year low of $58.26 and a 1 year high of $94.71.
The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.
61. The stock has a 50 day simple moving average of $77.08 and a two-hundred day simple moving average of $77.
81. The firm has a market cap of $4.19 billion, a P/E ratio of 12.
00, a P/E/G ratio of 1.51 and a beta of 1.28.
Timken ( NYSE:TKR – Get Free Report ) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.
08 by $0.08. Timken had a net margin of 7.
71% and a return on equity of 13.93%. On average, analysts forecast that The Timken Company will post 5.
62 earnings per share for the current fiscal year. Timken Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a $0.
34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.
36 annualized dividend and a dividend yield of 2.27%. Timken’s dividend payout ratio is currently 27.
25%. About Timken ( Free Report ) 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.
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