The Timken Company (NYSE:TKR) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System boosted its stake in shares of The Timken Company (NYSE:TKRFree Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,923 shares of the industrial products company’s stock after buying an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Timken were worth $1,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TKR. Livelsberger Financial Advisory acquired a new position in shares of Timken in the 4th quarter valued at $30,000. GAMMA Investing LLC acquired a new position in shares of Timken in the 4th quarter valued at $35,000. Anchor Investment Management LLC acquired a new position in shares of Timken in the 4th quarter valued at $58,000. Ramirez Asset Management Inc. acquired a new position in shares of Timken in the 3rd quarter valued at $81,000. Finally, Quent Capital LLC lifted its stake in shares of Timken by 50.4% in the 4th quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 341 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TKR. KeyCorp upped their price target on Timken from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Raymond James assumed coverage on Timken in a report on Friday, June 28th. They set a “market perform” rating for the company. Stifel Nicolaus raised their target price on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Loop Capital raised their target price on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Finally, Oppenheimer restated an “outperform” rating and set a $100.00 target price (up from $97.00) on shares of Timken in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $87.91.

View Our Latest Stock Analysis on Timken

Timken Price Performance

TKR stock opened at $78.77 on Friday. 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 firm has a market capitalization of $5.55 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.69 and a beta of 1.46. The business’s 50-day moving average is $85.58 and its two-hundred day moving average is $83.89. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08.

Timken (NYSE:TKRGet Free Report) last posted its quarterly 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. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. Timken’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 EPS. Analysts anticipate that The Timken Company will post 6.2 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is 25.90%.

Insider Transactions at Timken

In other news, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the transaction, the chief financial officer now owns 105,541 shares in the company, valued at approximately $9,473,360.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,006 shares of company stock valued at $5,269,636. Corporate insiders own 8.70% of the company’s stock.

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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