Bank of New York Mellon Corp Makes New Investment in Timken Company (The) $TKR

Bank of New York Mellon Corp purchased a new position in shares of Timken Company (The) (NYSE:TKR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 968,590 shares of the industrial products company's stock, valued at approximately $140,755,000. Bank of New York Mellon Corp owned 1.39% of Timken as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elevation Wealth Partners LLC grew its holdings 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 worth $38,000 after acquiring an additional 210 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new stake in Timken in the fourth quarter valued at $25,000. Clearstead Advisors LLC grew its holdings in Timken by 130.3% in the fourth quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Timken in the second quarter valued at $42,000. Finally, Danske Bank A S purchased a new position in shares of Timken in the third quarter valued at $45,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Insider Activity

In related news, Director Ajita G. Rajendra sold 8,450 shares of the stock in a transaction that occurred on 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard G. Kyle sold 13,637 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were 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 $23,264,970.12. The trade was a 6.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,535 shares of company stock worth $3,912,529 over the last ninety days. Corporate insiders own 8.10% of the company's stock.

Analyst Ratings Changes

TKR has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Timken from $128.00 to $142.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Morgan Stanley set a $140.00 price target on shares of Timken in a research report on Thursday, May 21st. Weiss Ratings raised shares of Timken from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Citigroup lifted their price objective on Timken from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, Oppenheimer upped their target price on Timken from $147.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Timken has an average rating of "Moderate Buy" and a consensus target price of $150.00.

Timken Price Performance

TKR opened at $125.07 on Monday. Timken Company has a 1 year low of $70.57 and a 1 year high of $146.37. The company's 50 day simple moving average is $136.75 and its 200 day simple moving average is $119.58. The stock has a market capitalization of $8.67 billion, a PE ratio of 33.89, a P/E/G ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.74 and a current ratio of 3.10.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.62 by $0.21. Timken had a net margin of 5.43% and a return on equity of 12.63%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. Timken's revenue for the quarter 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, sell-side analysts expect that Timken Company will post 6.26 EPS for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date is Tuesday, August 18th. Timken's dividend payout ratio (DPR) is 39.02%.

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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