Invesco Ltd. Trims Position in Timken Company (The) $TKR

Key Points

• Invesco Ltd. has reduced its holdings in Timken Company (NYSE:TKR) by 3.4%, now owning 177,000 shares valued at approximately $12.7 million.
• Timken recently reported earnings of $1.42 per share, surpassing estimates, but had a 0.8% decline in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $0.35, representing an **annual dividend yield of 1.8%**, with a payout ratio of 31.82%.

Invesco Ltd. trimmed its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 3.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 177,000 shares of the industrial products company's stock after selling 6,197 shares during the period. Invesco Ltd. owned 0.25% of Timken worth $12,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Timken by 282.3% in the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after buying an additional 847 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Timken by 77.8% in the first quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock valued at $856,000 after buying an additional 5,212 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Timken by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock valued at $2,523,000 after buying an additional 190 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Timken by 2.8% in the first quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company's stock valued at $477,681,000 after buying an additional 180,705 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Timken by 48.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 530,734 shares of the industrial products company's stock valued at $36,483,000 after buying an additional 174,145 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Trading Up 4.8%

Shares of TKR opened at $78.9640 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average is $76.03 and its two-hundred day moving average is $72.99. Timken Company has a twelve month low of $56.20 and a twelve month high of $87.52. The firm has a market capitalization of $5.50 billion, a P/E ratio of 17.95, a PEG ratio of 1.73 and a beta of 1.30.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Timken had a net margin of 6.86% and a return on equity of 11.78%. The company's quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 earnings per share. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. On average, research analysts predict that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be given a $0.35 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.40 annualized dividend and a dividend yield of 1.8%. Timken's dividend payout ratio is currently 31.82%.

Analyst Ratings Changes

A number of brokerages have recently commented on TKR. Citigroup upped their target price on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. DA Davidson boosted their price target on shares of Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Evercore ISI set a $84.00 price target on shares of Timken and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Oppenheimer dropped their price target on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $79.80.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.

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