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

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in 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 acquiring an additional 847 shares during the last quarter. Teacher Retirement System of Texas increased its stake in 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 acquiring an additional 5,212 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of 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 during the last quarter. Vanguard Group Inc. grew its stake in shares of Timken by 2.8% during 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 Timken by 48.8% during the 1st 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. Institutional investors own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of a number of analyst reports. DA Davidson increased their target price on shares of Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Oppenheimer decreased their target price on shares of Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Evercore ISI set a $84.00 target price on shares of Timken and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, Citigroup raised their target price on shares of Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Timken presently has a consensus rating of "Hold" and a consensus price target of $79.80.

Timken Trading Up 0.2%

NYSE:TKR opened at $79.15 on Thursday. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. Timken Company has a 12 month low of $56.20 and a 12 month high of $87.52. The company has a market cap of $5.51 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.73 and a beta of 1.30. The company has a 50 day simple moving average of $76.53 and a two-hundred day simple moving average of $73.00.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, topping 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The firm's revenue was down .8% on a year-over-year basis. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. Research analysts forecast that Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

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

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.

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