The Timken Company (NYSE:TKR) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lessened its stake in shares of The Timken Company (NYSE:TKRGet Rating) by 1.8% in the third quarter, Holdings Channel.com reports. The fund owned 19,521 shares of the industrial products company’s stock after selling 352 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Timken were worth $1,153,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TKR. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Timken by 39.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,335 shares of the industrial products company’s stock valued at $1,599,000 after purchasing an additional 7,408 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Timken by 10.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,312 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 712 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Timken during the first quarter valued at $1,059,000. MetLife Investment Management LLC boosted its position in Timken by 33.2% during the first quarter. MetLife Investment Management LLC now owns 44,547 shares of the industrial products company’s stock valued at $2,704,000 after purchasing an additional 11,093 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Timken by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,300 shares of the industrial products company’s stock valued at $1,536,000 after purchasing an additional 2,412 shares during the last quarter. Hedge funds and other institutional investors own 82.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TKR. KeyCorp lifted their price objective on Timken from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, November 21st. Oppenheimer lifted their price objective on Timken from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, September 30th. StockNews.com upgraded Timken from a “buy” rating to a “strong-buy” rating in a report on Friday, October 28th. Morgan Stanley raised their target price on Timken from $70.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, December 14th. Finally, Bank of America upgraded Timken from a “neutral” rating to a “buy” rating and raised their target price for the company from $71.00 to $87.00 in a report on Friday, January 13th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.44.

Timken Trading Up 3.9 %

Timken stock opened at $76.89 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 2.03. The business’s 50-day simple moving average is $72.66 and its 200-day simple moving average is $67.13. The firm has a market capitalization of $5.59 billion, a PE ratio of 15.44, a PEG ratio of 0.96 and a beta of 1.56. The Timken Company has a 52 week low of $50.85 and a 52 week high of $78.59.

Timken (NYSE:TKRGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.19. Timken had a return on equity of 18.16% and a net margin of 8.44%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Equities research analysts forecast that The Timken Company will post 5.89 earnings per share for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Monday, November 21st were paid a dividend of $0.31 per share. The ex-dividend date was Friday, November 18th. This represents a $1.24 annualized dividend and a yield of 1.61%. Timken’s dividend payout ratio is 24.90%.

Insider Activity at Timken

In related news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the transaction, the executive vice president now directly owns 103,140 shares in the company, valued at $7,146,570.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the transaction, the executive vice president now directly owns 103,140 shares in the company, valued at $7,146,570.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard G. Kyle sold 15,873 shares of Timken stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $70.29, for a total value of $1,115,713.17. Following the sale, the chief executive officer now directly owns 339,843 shares in the company, valued at $23,887,564.47. The disclosure for this sale can be found here. Insiders have sold 67,244 shares of company stock worth $4,853,869 over the last three months. Company insiders own 10.79% of the company’s stock.

Timken Profile

(Get Rating)

The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.

See Also

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Timken Company (NYSE:TKRGet Rating).

Institutional Ownership by Quarter for Timken (NYSE:TKR)

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