State of New Jersey Common Pension Fund D Acquires 753 Shares of The Timken Company (NYSE:TKR)

State of New Jersey Common Pension Fund D increased its stake in The Timken Company (NYSE:TKR) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,397 shares of the industrial products company’s stock after buying an additional 753 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Timken were worth $1,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TKR. Vanguard Group Inc. lifted its stake in shares of Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares in the last quarter. American Century Companies Inc. lifted its position in Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after acquiring an additional 128,791 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Timken by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after purchasing an additional 97,550 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Timken by 2.1% in the 2nd quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock worth $105,957,000 after purchasing an additional 26,671 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Timken by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 529,161 shares of the industrial products company’s stock worth $42,402,000 after purchasing an additional 3,462 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Trading Up 0.8 %

Shares of Timken stock opened at $75.59 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The stock has a market capitalization of $5.30 billion, a PE ratio of 15.72, a P/E/G ratio of 1.12 and a beta of 1.43. The Timken Company has a 1-year low of $71.57 and a 1-year high of $94.71. The company’s fifty day simple moving average is $81.89 and its 200-day simple moving average is $83.33.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. Timken’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, equities analysts anticipate that The Timken Company will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, November 19th. Timken’s dividend payout ratio is 28.27%.

Insiders Place Their Bets

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TKR shares. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Oppenheimer dropped their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Citigroup assumed coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. KeyCorp lowered their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $90.00.

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.