The Timken Company (NYSE:TKR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in The Timken Company (NYSE:TKR) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 34,928 shares of the industrial products company’s stock after selling 235 shares during the quarter. State of Alaska Department of Revenue’s holdings in Timken were worth $2,492,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its stake in Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after purchasing an additional 434,800 shares in the last quarter. Verition Fund Management LLC lifted its stake in Timken by 3,179.1% during the 3rd quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 187,946 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after acquiring an additional 107,350 shares during the period. Royce & Associates LP grew its position in Timken by 73.2% in the 3rd quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock valued at $16,054,000 after acquiring an additional 80,513 shares in the last quarter. Finally, State Street Corp increased its stake in Timken by 3.5% during the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after purchasing an additional 66,208 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Trading Down 0.4 %

TKR opened at $81.51 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 3.07. The Timken Company has a one year low of $69.35 and a one year high of $94.71. The company has a market cap of $5.72 billion, a P/E ratio of 16.33, a PEG ratio of 1.21 and a beta of 1.39. The business’s 50-day simple moving average is $75.55 and its 200-day simple moving average is $79.35.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, equities research analysts expect that The Timken Company will post 5.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on TKR shares. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Oppenheimer decreased their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Finally, Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $82.00 to $93.00 in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

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.