The Timken Company (NYSE:TKR) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its holdings in The Timken Company (NYSE:TKR) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,772 shares of the industrial products company’s stock after selling 755 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Timken were worth $1,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new position in Timken in the fourth quarter valued at about $29,000. Amundi raised its holdings in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Timken during the fourth quarter worth $109,000. AlphaQuest LLC grew its holdings in Timken by 25,983.3% in the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 1,559 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Timken by 88.3% in the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock valued at $134,000 after buying an additional 880 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Performance

NYSE:TKR opened at $65.23 on Wednesday. The company has a market cap of $4.57 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.51 and a beta of 1.28. The firm’s 50 day moving average is $69.82 and its two-hundred day moving average is $75.06. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $94.71. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Analysts expect that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 2.08%. Timken’s payout ratio is 27.25%.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s 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 owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TKR shares. DA Davidson reiterated a “neutral” rating and issued a $66.00 price objective (down from $97.00) on shares of Timken in a research report on Monday, April 21st. Citigroup lowered their price target on shares of Timken from $95.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley reduced their target price on Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Loop Capital lowered their target price on Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Finally, Bank of America raised Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $81.91.

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.