Treasurer of the State of North Carolina Has $2.76 Million Stake in The Timken Company (NYSE:TKR)

Treasurer of the State of North Carolina lowered its stake in shares of The Timken Company (NYSE:TKRFree Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 34,430 shares of the industrial products company’s stock after selling 298 shares during the period. Treasurer of the State of North Carolina’s holdings in Timken were worth $2,760,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Provident Investment Management Inc. boosted its stake in Timken by 2.0% during the 4th quarter. Provident Investment Management Inc. now owns 324,940 shares of the industrial products company’s stock valued at $26,044,000 after purchasing an additional 6,423 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Timken by 12.4% during the 4th quarter. Hsbc Holdings PLC now owns 39,430 shares of the industrial products company’s stock valued at $3,155,000 after purchasing an additional 4,362 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in Timken by 145.4% during the 4th quarter. Johnson Financial Group Inc. now owns 1,264 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 749 shares during the last quarter. Commerce Bank acquired a new position in Timken during the 4th quarter valued at about $474,000. Finally, Ontario Teachers Pension Plan Board boosted its stake in shares of Timken by 36.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 42,749 shares of the industrial products company’s stock worth $3,426,000 after buying an additional 11,533 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TKR shares. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price on the stock. in a research note on Tuesday, February 20th. Stifel Nicolaus boosted their target price on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and issued a $100.00 target price (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. KeyCorp boosted their target price on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, Loop Capital upped their price objective on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.91.

View Our Latest Research Report on Timken

Insider Buying and Selling at Timken

In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the transaction, the executive vice president now owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Philip D. Fracassa sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The disclosure for this sale can be found here. Insiders have sold 59,006 shares of company stock valued at $5,269,636 in the last 90 days. 8.70% of the stock is currently owned by company insiders.

Timken Trading Up 1.3 %

Shares of TKR stock opened at $84.80 on Thursday. The company’s fifty day simple moving average is $87.73 and its two-hundred day simple moving average is $82.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.78 and a beta of 1.50.

Timken (NYSE:TKRGet Free Report) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, analysts anticipate that The Timken Company will post 6.19 earnings per share for the current year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.34 per share. This is a boost from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.60%. Timken’s payout ratio is presently 25.90%.

Timken Company Profile

(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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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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