Invesco Ltd. Sells 6,197 Shares of 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. decreased its holdings in shares of Timken Company (The) (NYSE:TKR - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,000 shares of the industrial products company's stock after selling 6,197 shares during the period. Invesco Ltd. owned approximately 0.25% of Timken worth $12,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Timken by 77.8% during the 1st quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock worth $856,000 after buying an additional 5,212 shares during the period. State of Alaska Department of Revenue lifted its stake in Timken by 0.5% during 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 in the last quarter. Vanguard Group Inc. boosted 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 worth $477,681,000 after buying an additional 180,705 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted 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 worth $36,483,000 after buying an additional 174,145 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on TKR. Oppenheimer cut their target price 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. Citigroup lifted their price target on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. 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, August 19th. Finally, DA Davidson raised their target price on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Timken presently has a consensus rating of "Hold" and a consensus price target of $79.80.

Timken Stock Performance

Shares of Timken stock traded down $0.95 during midday trading on Friday, hitting $77.26. The company had a trading volume of 620,880 shares, compared to its average volume of 624,846. Timken Company has a 1-year low of $56.20 and a 1-year high of $87.52. The business's 50 day simple moving average is $76.82 and its two-hundred day simple moving average is $72.95. The stock has a market cap of $5.38 billion, a PE ratio of 17.56, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72.

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

Timken Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 19th. Timken's dividend payout ratio (DPR) is 31.82%.

Timken 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.