Allspring Global Investments Holdings LLC Boosts Holdings in Timken Company (The) $TKR

Key Points

• Allspring Global Investments increased its Timken stake by 4.9% in Q1, ending with 256,726 shares valued at about $26.2 million.
• Timken reported better-than-expected Q1 earnings of $1.67 per share on revenue of $1.23 billion, and it raised its quarterly dividend to $0.36 per share.
• Analysts remain broadly positive, with several firms lifting price targets to $160; Timken now has a consensus rating of Moderate Buy and an average target price of $149.62.

Allspring Global Investments Holdings LLC boosted its stake in Timken Company (The) (NYSE:TKR - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,726 shares of the industrial products company's stock after acquiring an additional 12,101 shares during the period. Allspring Global Investments Holdings LLC owned about 0.37% of Timken worth $26,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Timken by 12.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,672,110 shares of the industrial products company's stock worth $224,813,000 after buying an additional 297,047 shares during the period. UBS Group AG boosted its holdings in shares of Timken by 734.7% in the third quarter. UBS Group AG now owns 2,286,250 shares of the industrial products company's stock valued at $171,880,000 after acquiring an additional 2,012,352 shares during the period. Victory Capital Management Inc. grew its position in shares of Timken by 15.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,843,042 shares of the industrial products company's stock worth $155,055,000 after acquiring an additional 247,000 shares during the last quarter. Invesco Ltd. grew its position in shares of Timken by 1.0% during the fourth quarter. Invesco Ltd. now owns 1,371,613 shares of the industrial products company's stock worth $115,394,000 after acquiring an additional 13,459 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Timken by 5.6% in the 4th quarter. Brown Advisory Inc. now owns 1,273,668 shares of the industrial products company's stock valued at $107,154,000 after acquiring an additional 67,573 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Timken

In related news, Director Ajita G. Rajendra sold 8,450 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $131.34, for a total value of $1,109,823.00. Following the sale, the director directly owned 20,225 shares in the company, valued at $2,656,351.50. The trade was a 29.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard G. Kyle sold 8,448 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $127.35, for a total transaction of $1,075,852.80. Following the completion of the sale, the director directly owned 197,361 shares in the company, valued at approximately $25,133,923.35. The trade was a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 69,079 shares of company stock valued at $8,296,144. Insiders own 8.10% of the company's stock.

Timken Stock Down 2.5%

Timken stock opened at $134.32 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.88 and a quick ratio of 1.55. Timken Company has a 1-year low of $70.57 and a 1-year high of $146.37. The company has a market cap of $9.34 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.64 and a beta of 1.20. The stock's 50 day moving average price is $132.83 and its 200 day moving average price is $112.49.

Timken (NYSE:TKR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.17. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.17 billion. Timken had a net margin of 6.60% and a return on equity of 11.84%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.40 earnings per share. Timken has set its FY 2026 guidance at 5.750-6.250 EPS. On average, sell-side analysts predict that Timken Company will post 6.16 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, May 19th. This is a positive change from Timken's previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 1.1%. Timken's dividend payout ratio (DPR) is presently 32.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TKR. JPMorgan Chase & Co. increased their price target on shares of Timken from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. KeyCorp upped their target price on shares of Timken from $140.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Citigroup increased their target price on shares of Timken from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. DA Davidson began coverage on Timken in a report on Tuesday, June 16th. They set a "neutral" rating and a $130.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on Timken from $128.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Timken presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.62.

Timken Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken's products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken's portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.

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