Timken Company (The) $TKR Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in Timken Company by 35.4% in the first quarter, now owning 356,708 shares valued at approximately $25.64 million.
• Timken reported earnings of $1.42 per share for the last quarter, exceeding analysts' expectations of $1.34, despite a 0.8% decrease in revenue year-over-year.
• The company announced a quarterly dividend of $0.35 per share, which will be paid on August 29, contributing to an annualized dividend yield of 1.8%.

T. Rowe Price Investment Management Inc. decreased its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 356,708 shares of the industrial products company's stock after selling 195,688 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.51% of Timken worth $25,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC purchased a new position in shares of Timken in the fourth quarter valued at approximately $66,000. UMB Bank n.a. lifted its stake in Timken by 400.0% in the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock worth $72,000 after acquiring an additional 800 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $82,000 after acquiring an additional 847 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in Timken in the first quarter worth approximately $108,000. Finally, Blue Trust Inc. lifted 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 acquiring an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on TKR shares. Oppenheimer decreased their price target 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 price target on shares of Timken and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. DA Davidson lifted 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. Finally, Citigroup lifted their price target on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $79.80.

Timken Stock Down 0.9%

Shares of NYSE:TKR traded down $0.72 during trading on Friday, hitting $77.50. 123,921 shares of the company were exchanged, compared to its average volume of 671,392. The stock has a market capitalization of $5.40 billion, a P/E ratio of 17.61, a PEG ratio of 1.73 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 Company has a 12-month low of $56.20 and a 12-month high of $87.52. The firm's 50 day moving average price is $76.69 and its 200-day moving average price is $72.98.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 earned $1.63 EPS. The company'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, 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. Investors 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 yield of 1.8%. Timken's dividend payout ratio 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.