Teacher Retirement System of Texas Has $856,000 Stock Position in Timken Company (The) (NYSE:TKR)

Teacher Retirement System of Texas raised its holdings in Timken Company (The) (NYSE:TKR) by 77.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,912 shares of the industrial products company’s stock after purchasing an additional 5,212 shares during the period. Teacher Retirement System of Texas’ holdings in Timken were worth $856,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Keybank National Association OH boosted its holdings in Timken by 0.5% in the 1st quarter. Keybank National Association OH now owns 352,951 shares of the industrial products company’s stock valued at $25,367,000 after purchasing an additional 1,709 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Timken by 48.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 530,734 shares of the industrial products company’s stock valued at $36,483,000 after purchasing an additional 174,145 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of Timken during the first quarter valued at $108,000. Wealthquest Corp bought a new position in shares of Timken during the first quarter valued at $814,000. Finally, Lecap Asset Management Ltd. bought a new position in shares of Timken during the first quarter valued at $446,000. Institutional investors own 89.08% of the company’s stock.

Timken Price Performance

Shares of NYSE:TKR opened at $77.29 on Tuesday. The company has a 50 day moving average of $71.98 and a 200 day moving average of $72.61. The stock has a market cap of $5.41 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.86 and a beta of 1.27. Timken Company has a 12 month low of $56.20 and a 12 month high of $90.49. The company has a current ratio of 3.15, a quick ratio of 1.71 and a debt-to-equity ratio of 0.68.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 earnings per share. As a group, sell-side analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a dividend of $0.35 per share. This is a positive change from Timken’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, May 13th. Timken’s dividend payout ratio is currently 30.17%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TKR shares. Morgan Stanley dropped their price target on shares of Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group reissued a “hold” rating and set a $70.00 target price (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Evercore ISI dropped their price objective on shares of Timken from $102.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, May 19th. Oppenheimer dropped their price target on shares of Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their price objective on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.00.

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.