Northern Trust Corp Buys 51,183 Shares of Timken Company (The) $TKR

Key Points

• Northern Trust Corp has increased its stake in Timken Company by 8.4% during the first quarter, acquiring an additional 51,183 shares, bringing its total ownership to approximately 662,696 shares valued at $47.6 million.
• Several institutional investors have also significantly increased their holdings in Timken, with GAMMA Investing LLC raising its stake by 282.3%, leading to a growing trend of investment in the company.
• Timken recently announced a $0.35 quarterly dividend with an annual yield of 1.8%, set to be paid to shareholders on August 29th, indicating a commitment to returning value to its investors.

Northern Trust Corp boosted its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 8.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 662,696 shares of the industrial products company's stock after buying an additional 51,183 shares during the period. Northern Trust Corp owned approximately 0.95% of Timken worth $47,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parvin Asset Management LLC purchased a new stake in Timken during the 4th quarter valued at $66,000. UMB Bank n.a. raised its holdings in Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after buying an additional 800 shares during the period. GAMMA Investing LLC raised its holdings in Timken by 282.3% during the 1st 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 period. Alpine Bank Wealth Management purchased a new stake in Timken during the 1st quarter valued at $108,000. Finally, Blue Trust Inc. increased its stake in Timken by 9.2% in the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock worth $147,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Stock Down 1.0%

Shares of TKR traded down $0.76 during midday trading on Tuesday, reaching $76.47. 590,790 shares of the stock were exchanged, compared to its average volume of 576,377. Timken Company has a 52 week low of $56.20 and a 52 week high of $87.52. 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 company's 50 day moving average is $77.00 and its two-hundred day moving average is $72.79. The company has a market capitalization of $5.33 billion, a P/E ratio of 17.38, a PEG ratio of 1.69 and a beta of 1.25.

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

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.8%. Timken's dividend payout ratio is presently 31.82%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TKR. Citigroup increased their target price on Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. DA Davidson increased their target price on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Evercore ISI set a $84.00 target price on Timken and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $79.80.

About Timken

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.