Bank of America Corp DE Sells 44,048 Shares of Timken Company (The) $TKR

Key Points

• Bank of America cut its Timken stake by 8.4% in the first quarter, selling 44,048 shares and retaining 477,963 shares valued at approximately $48.1 million. Institutional investors collectively own 89.08% of Timken.
• Analysts remain broadly positive, with six Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $150. Citigroup and KeyCorp recently raised their targets to $160.
• Timken exceeded quarterly expectations, reporting $1.83 EPS versus the $1.62 estimate and $1.26 billion in revenue, up 7.5% year over year. The company also declared a quarterly dividend of $0.36 per share, equal to a 1.1% annualized yield.

Bank of America Corp DE lowered its position in Timken Company (The) (NYSE:TKR - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 477,963 shares of the industrial products company's stock after selling 44,048 shares during the period. Bank of America Corp DE owned 0.69% of Timken worth $48,069,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Timken by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,886,955 shares of the industrial products company's stock worth $290,320,000 after purchasing an additional 214,845 shares in the last quarter. UBS Group AG boosted its stake in shares of Timken by 734.7% during the 3rd 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 in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Timken by 15.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,843,042 shares of the industrial products company's stock valued at $155,055,000 after acquiring an additional 247,000 shares during the last quarter. Invesco Ltd. raised its stake in shares of Timken by 1.0% in the 4th quarter. Invesco Ltd. now owns 1,371,613 shares of the industrial products company's stock valued at $115,394,000 after acquiring an additional 13,459 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in Timken by 5.6% during the fourth quarter. Brown Advisory Inc. now owns 1,273,668 shares of the industrial products company's stock worth $107,154,000 after purchasing an additional 67,573 shares during the period. 89.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TKR. Weiss Ratings lowered shares of Timken from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Citigroup raised their target price on shares of Timken from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Evercore reiterated an "outperform" rating and issued a $158.00 target price on shares of Timken in a report on Monday, May 11th. Morgan Stanley set a $140.00 price target on shares of Timken in a report on Thursday, May 21st. Finally, KeyCorp raised their price target on Timken from $140.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Timken has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 13,637 shares of Timken stock in a transaction that occurred on 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 sale, the director owned 183,724 shares of the company's stock, valued at approximately $23,264,970.12. This trade represents a 6.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ajita G. Rajendra sold 8,450 shares of the company's stock in a transaction on 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 completion of the transaction, the director owned 20,225 shares of the company's stock, valued at $2,656,351.50. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 30,535 shares of company stock valued at $3,912,529. Insiders own 8.10% of the company's stock.

Timken Price Performance

NYSE:TKR opened at $130.08 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.10 and a quick ratio of 1.74. Timken Company has a one year low of $70.57 and a one year high of $146.37. The company has a fifty day moving average price of $137.58 and a 200 day moving average price of $117.85. The stock has a market cap of $9.01 billion, a P/E ratio of 35.25, a PEG ratio of 1.52 and a beta of 1.21.

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

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, August 18th. Timken's payout ratio is currently 39.02%.

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.

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