State of Alaska Department of Revenue Lowers Position in The Timken Company (NYSE:TKR)

State of Alaska Department of Revenue trimmed its position in shares of The Timken Company (NYSE:TKRFree Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vestcor Inc acquired a new position in shares of Timken in the third quarter worth about $560,000. TT International Asset Management LTD increased its stake in shares of Timken by 1,075.2% in the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after purchasing an additional 35,932 shares in the last quarter. Barclays PLC raised its holdings in Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after purchasing an additional 59,716 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Timken during the third quarter worth approximately $2,863,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Timken by 29.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock valued at $4,327,000 after purchasing an additional 13,697 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Down 0.4 %

NYSE TKR opened at $81.51 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71. The business’s fifty day simple moving average is $75.55 and its 200-day simple moving average is $79.35. The firm has a market cap of $5.72 billion, a PE ratio of 16.33, a P/E/G ratio of 1.21 and a beta of 1.39.

Timken (NYSE:TKRGet Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share 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 analysts anticipate that The Timken Company will post 5.6 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TKR. DA Davidson decreased their target price on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Oppenheimer cut their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Finally, Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Timken has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Get Our Latest Stock Report on TKR

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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