LSV Asset Management reduced its stake in Timken Company (The) (NYSE:TKR - Free Report) by 36.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 118,600 shares of the industrial products company's stock after selling 67,948 shares during the quarter. LSV Asset Management owned about 0.17% of Timken worth $9,978,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of TKR. Royal Bank of Canada raised its position in shares of Timken by 44.2% in the 1st quarter. Royal Bank of Canada now owns 90,550 shares of the industrial products company's stock valued at $6,508,000 after purchasing an additional 27,750 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Timken by 147.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,765 shares of the industrial products company's stock valued at $25,569,000 after purchasing an additional 211,718 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Timken by 7.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,872 shares of the industrial products company's stock valued at $16,305,000 after purchasing an additional 16,000 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Timken by 18.7% in the 2nd quarter. Prudential Financial Inc. now owns 6,815 shares of the industrial products company's stock valued at $494,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Timken by 241.7% in the 2nd quarter. Invesco Ltd. now owns 604,879 shares of the industrial products company's stock valued at $43,884,000 after purchasing an additional 427,879 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director Richard G. Kyle sold 37,181 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.34, for a total transaction of $4,362,818.54. Following the sale, the director owned 206,455 shares of the company's stock, valued at $24,225,429.70. This trade represents a 15.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John M. Timken, Jr. sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $116.51, for a total transaction of $1,747,650.00. Following the sale, the director directly owned 264,744 shares in the company, valued at $30,845,323.44. The trade was a 5.36% decrease in their position. The SEC filing for this sale provides additional information. 8.10% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages recently commented on TKR. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Timken in a research report on Monday, April 20th. Wall Street Zen raised shares of Timken from a "hold" rating to a "buy" rating in a research report on Sunday, March 1st. Morgan Stanley set a $140.00 price target on shares of Timken in a report on Thursday. KeyCorp increased their price target on shares of Timken from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Finally, DA Davidson increased their price target on shares of Timken from $117.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $136.63.
Check Out Our Latest Research Report on Timken
Timken Price Performance
Shares of NYSE:TKR opened at $120.08 on Tuesday. Timken Company has a twelve month low of $67.14 and a twelve month high of $123.67. The company's 50 day moving average is $106.88 and its 200 day moving average is $96.97. The company has a current ratio of 2.88, a quick ratio of 1.55 and a debt-to-equity ratio of 0.60. The company has a market cap of $8.35 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.18.
Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.17. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.17 billion. Timken had a net margin of 6.60% and a return on equity of 11.84%. Timken's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. Timken has set its FY 2026 guidance at 5.750-6.250 EPS. On average, sell-side analysts forecast that Timken Company will post 6.05 EPS for the current year.
Timken Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, May 19th. This is a positive change from Timken's previous quarterly dividend of $0.35. Timken's dividend payout ratio is 32.73%.
Timken Company Profile
(
Free Report)
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.
See Also
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).
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