New York State Common Retirement Fund Has $16.92 Million Holdings in The Timken Company (NYSE:TKR)

New York State Common Retirement Fund lessened its stake in The Timken Company (NYSE:TKR) by 2.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 200,711 shares of the industrial products company’s stock after selling 4,756 shares during the quarter. New York State Common Retirement Fund’s holdings in Timken were worth $16,918,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Timken during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its position in shares of Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Timken during the 2nd quarter worth approximately $30,000. Livelsberger Financial Advisory acquired a new stake in shares of Timken during the 3rd quarter worth approximately $32,000. Finally, UMB Bank n.a. grew its position in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Performance

Shares of TKR opened at $72.60 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The Timken Company has a twelve month low of $70.15 and a twelve month high of $94.71. The firm’s 50 day moving average price is $82.98 and its two-hundred day moving average price is $84.00. The firm has a market cap of $5.09 billion, a P/E ratio of 14.88, a PEG ratio of 1.89 and a beta of 1.43.

Insider Buying and Selling at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total value of $2,413,800.00. Following the transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup assumed coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. Evercore ISI lowered their price target on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, DA Davidson reiterated a “buy” rating and set a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.70.

Timken Company 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.