The Manufacturers Life Insurance Company purchased a new position in Timken Company (The) (NYSE:TKR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 522,825 shares of the industrial products company's stock, valued at approximately $75,977,000. The Manufacturers Life Insurance Company owned 0.75% of Timken as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew 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 worth $6,508,000 after buying an additional 27,750 shares during the period. Goldman Sachs Group Inc. lifted its position in Timken by 147.0% during 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 acquiring an additional 211,718 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Timken by 7.6% during 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 acquiring an additional 16,000 shares during the period. Prudential Financial Inc. boosted its stake in Timken by 18.7% during the second quarter. Prudential Financial Inc. now owns 6,815 shares of the industrial products company's stock worth $494,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Timken by 241.7% in the second quarter. Invesco Ltd. now owns 604,879 shares of the industrial products company's stock worth $43,884,000 after purchasing an additional 427,879 shares during the period. Institutional investors own 89.08% of the company's stock.
Insider Transactions at Timken
In related news, Director Richard G. Kyle sold 13,637 shares of Timken stock in a transaction on Monday, August 10th. The stock was sold at an average price of $126.63, for a total value of $1,726,853.31. Following the completion of the sale, the director owned 183,724 shares of the company's stock, valued at $23,264,970.12. The trade was a 6.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ajita G. Rajendra sold 8,450 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $131.34, for a total value of $1,109,823.00. Following the sale, the director owned 20,225 shares of the company's stock, valued at approximately $2,656,351.50. This trade represents a 29.47% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 8.10% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on TKR. Evercore reiterated an "outperform" rating and set a $158.00 target price on shares of Timken in a report on Monday, May 11th. Oppenheimer upped their price target on Timken from $147.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 21st. Weiss Ratings raised Timken from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 20th. DA Davidson set a $130.00 price objective on Timken in a research note on Friday, August 14th. Finally, Morgan Stanley set a $140.00 target price on Timken in a report on Thursday, May 21st. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Timken has a consensus rating of "Moderate Buy" and an average target price of $150.00.
Get Our Latest Research Report on TKR
Timken Trading Down 0.2%
Shares of NYSE TKR opened at $122.52 on Wednesday. The firm's 50 day moving average price is $136.06 and its 200-day moving average price is $119.93. Timken Company has a 52-week low of $70.57 and a 52-week high of $146.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.74 and a current ratio of 3.10. The company has a market cap of $8.49 billion, a PE ratio of 33.20, a P/E/G ratio of 1.44 and a beta of 1.21.
Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. Timken had a net margin of 5.43% and a return on equity of 12.63%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 EPS. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. On average, equities research analysts expect that Timken Company will post 6.26 EPS for the current fiscal year.
Timken Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.44 dividend on an annualized basis and a yield of 1.2%. Timken's payout ratio is 39.02%.
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.
Further Reading
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