142,376 Timken Company (The) $TKR Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Timken stake by 79.8% in the third quarter, purchasing 142,376 additional shares for a total holding of 320,882 shares valued at approximately $38.2 million. Institutional investors collectively own 89.08% of Timken.
• Analysts maintain a generally positive outlook, with seven Buy ratings and three Hold ratings producing a “Moderate Buy” consensus and an average price target of $145, compared with the stock’s reported price of $112.38.
• Timken exceeded quarterly expectations, reporting $1.83 in EPS versus the $1.62 consensus and $1.26 billion in revenue, up 7.5% year over year. The company also declared a quarterly dividend of $0.36 per share, representing a 1.3% annualized yield.

TD Waterhouse Canada Inc. raised its holdings in shares of Timken Company (The) (NYSE:TKR - Free Report) by 79.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 320,882 shares of the industrial products company's stock after acquiring an additional 142,376 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.46% of Timken worth $38,243,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Allworth Financial LP purchased a new position in shares of Timken during the second quarter worth about $37,000. Elevation Wealth Partners LLC grew its stake in shares of Timken by 420.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 260 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 210 shares during the last quarter. Trust Co. of Vermont purchased a new position in Timken in the 2nd quarter valued at $41,000. Fairway Wealth LLC acquired a new position in shares of Timken during the first quarter worth about $67,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in Timken during the 3rd quarter worth approximately $73,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Timken from $128.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, July 10th. DA Davidson set a $130.00 price objective on shares of Timken in a research note on Friday, August 14th. Oppenheimer reissued an "outperform" rating and issued a $150.00 target price on shares of Timken in a research note on Thursday, October 1st. Wall Street Zen downgraded Timken from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Timken from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.00.

Timken Stock Performance

NYSE:TKR opened at $112.38 on Friday. The firm's fifty day simple moving average is $120.45 and its 200 day simple moving average is $123.61. The company has a current ratio of 3.10, a quick ratio of 1.74 and a debt-to-equity ratio of 0.61. Timken Company has a twelve month low of $72.71 and a twelve month high of $146.37. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 1.25 and a beta of 1.18.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.21. Timken had a return on equity of 12.63% and a net margin of 5.43%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm earned $1.12 EPS. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, equities research analysts expect that Timken Company will post 6.25 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were paid a $0.36 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.3%. Timken's dividend payout ratio is 39.02%.

Insider Buying and Selling at Timken

In other news, Director Richard Kyle sold 13,637 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $126.63, for a total transaction of $1,726,853.31. Following the completion of the sale, the director directly owned 183,724 shares in the company, valued at $23,264,970.12. This trade represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.10% of the stock is owned by corporate insiders.

Timken Profile

Timken NYSE: TKR is an engineered bearings and industrial motion products company. Its offerings include tapered, spherical, cylindrical, needle and precision bearings, as well as seals and lubrication systems designed to reduce friction, manage loads and support the performance of mechanical equipment.

Through its Industrial Motion business, Timken also provides products such as mechanical power transmission components, chains, belts, couplings, linear motion systems and gear drives.

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