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

New York State Common Retirement Fund cut its position in The Timken Company (NYSE:TKR) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 owned approximately 0.29% of Timken worth $16,918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TKR. Fidelis Capital Partners LLC acquired a new stake in Timken in the 1st quarter worth $26,000. EverSource Wealth Advisors LLC grew its position in Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Timken in the 2nd quarter worth $30,000. Livelsberger Financial Advisory acquired a new stake in Timken in the 3rd quarter worth $32,000. Finally, UMB Bank n.a. grew its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Trading Down 12.9 %

Shares of TKR stock opened at $72.60 on Wednesday. The Timken Company has a 12-month low of $70.15 and a 12-month high of $94.71. The company has a market capitalization of $5.09 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.89 and a beta of 1.43. The firm has a 50-day moving average price of $82.98 and a 200 day moving average price of $84.00. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TKR shares. Citigroup assumed coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Evercore ISI reduced their price objective on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, DA Davidson reaffirmed a “buy” rating and set a $103.00 price objective on shares of Timken in a report on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.70.

Insider Activity at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the transaction, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at $19,671,263.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by insiders.

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.