Assenagon Asset Management S.A. Takes $2.44 Million Position in Timken Company (The) $TKR

Key Points

• Assenagon Asset Management bought 16,768 Timken shares worth approximately $2.44 million in the second quarter. Institutional investors collectively own 89.08% of Timken’s stock.
• Timken reported quarterly earnings of $1.83 per share, beating estimates of $1.62, while revenue rose 7.5% year over year to $1.26 billion. The company reaffirmed fiscal 2026 EPS guidance of $6.05–$6.35.
• Analysts maintain a “Moderate Buy” consensus with a $150 average price target, while Timken announced a quarterly dividend of $0.36 per share, representing a 1.1% annualized yield.

Assenagon Asset Management S.A. bought a new position in shares of Timken Company (The) (NYSE:TKR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,768 shares of the industrial products company's stock, valued at approximately $2,437,000.

Other institutional investors also recently made changes to their positions in the company. UBS Group AG increased its position in Timken by 734.7% during the third quarter. UBS Group AG now owns 2,286,250 shares of the industrial products company's stock worth $171,880,000 after acquiring an additional 2,012,352 shares during the period. Invesco Ltd. increased its position in shares of Timken by 124.5% in the third quarter. Invesco Ltd. now owns 1,358,154 shares of the industrial products company's stock worth $102,106,000 after purchasing an additional 753,275 shares during the period. Norges Bank bought a new position in shares of Timken in the fourth quarter worth $47,644,000. Alyeska Investment Group L.P. acquired a new position in Timken in the fourth quarter valued at about $44,421,000. Finally, Balyasny Asset Management L.P. lifted its position in Timken by 235.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 735,354 shares of the industrial products company's stock worth $61,865,000 after purchasing an additional 515,948 shares during the period. Institutional investors own 89.08% of the company's stock.

Timken Stock Up 0.8%

Shares of NYSE:TKR opened at $131.25 on Friday. The business has a fifty day simple moving average of $137.53 and a 200 day simple moving average of $118.11. The company has a quick ratio of 1.74, a current ratio of 3.10 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.10 billion, a P/E ratio of 35.57, a P/E/G ratio of 1.54 and a beta of 1.21. Timken Company has a 12-month low of $70.57 and a 12-month high of $146.37.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.62 by $0.21. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.23 billion. Timken had a return on equity of 12.63% and a net margin of 5.43%.The firm's revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. Analysts predict that Timken Company will post 6.23 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, August 18th. Timken's payout ratio is presently 39.02%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TKR shares. Oppenheimer upped their price target on shares of Timken from $147.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, July 21st. The Goldman Sachs Group increased their target price on shares of Timken from $128.00 to $142.00 and gave the stock a "neutral" rating in a report on Friday, July 10th. DA Davidson began coverage on shares of Timken in a research note on Tuesday, June 16th. They issued a "neutral" rating and a $130.00 price target on the stock. Morgan Stanley set a $140.00 price target on Timken in a research note on Thursday, May 21st. Finally, Citigroup raised their price objective on Timken from $140.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Timken currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 13,637 shares of Timken 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 transaction, the director owned 183,724 shares in the company, valued at approximately $23,264,970.12. The trade was a 6.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ajita G. Rajendra sold 8,450 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $131.34, for a total transaction of $1,109,823.00. Following the completion of the sale, the director owned 20,225 shares of the company's stock, valued at approximately $2,656,351.50. This represents a 29.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 30,535 shares of company stock valued at $3,912,529. 8.10% of the stock is currently owned by corporate insiders.

About Timken

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.

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Timken Company (The) (NYSE:TKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source