Timken Company (The) $TKR Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its Timken stake by 21.8% in the fourth quarter, selling 28,814 shares and leaving it with 103,556 shares valued at about $8.7 million.
• Timken reported strong quarterly results, with EPS of $1.67 versus the $1.50 consensus and revenue of $1.23 billion, up 8% year over year. The company also raised its full-year guidance to 5.75-6.25 EPS.
• The company raised its quarterly dividend to $0.36 per share from $0.35, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $139.13.

Legal & General Group Plc decreased its position in shares of Timken Company (The) (NYSE:TKR - Free Report) by 21.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 103,556 shares of the industrial products company's stock after selling 28,814 shares during the period. Legal & General Group Plc owned 0.15% of Timken worth $8,712,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Uncommon Cents Investing LLC raised its holdings in Timken by 0.5% in the 4th quarter. Uncommon Cents Investing LLC now owns 27,465 shares of the industrial products company's stock valued at $2,311,000 after acquiring an additional 125 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Timken by 3.2% during the third quarter. Quadrant Capital Group LLC now owns 4,319 shares of the industrial products company's stock worth $325,000 after purchasing an additional 132 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in shares of Timken by 3.7% during the third quarter. Hilltop Holdings Inc. now owns 3,997 shares of the industrial products company's stock worth $300,000 after purchasing an additional 142 shares during the last quarter. Winslow Asset Management Inc. grew its position in shares of Timken by 2.5% in the third quarter. Winslow Asset Management Inc. now owns 6,114 shares of the industrial products company's stock valued at $460,000 after purchasing an additional 150 shares during the period. Finally, AlphaQuest LLC grew its position in shares of Timken by 11.4% in the third quarter. AlphaQuest LLC now owns 1,744 shares of the industrial products company's stock valued at $131,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Price Performance

Shares of Timken stock opened at $133.73 on Friday. Timken Company has a twelve month low of $69.25 and a twelve month high of $134.00. The stock has a market capitalization of $9.29 billion, a P/E ratio of 30.39, a PEG ratio of 1.58 and a beta of 1.21. 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 business's fifty day moving average price is $111.83 and its 200 day moving average price is $99.84.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.50 by $0.17. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. Timken had a return on equity of 11.84% and a net margin of 6.60%.The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 earnings per share. Timken has set its FY 2026 guidance at 5.750-6.250 EPS. As a group, research analysts anticipate that Timken Company will post 6.13 earnings per share for the current year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.36 per share. This is a boost from Timken's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.44 dividend on an annualized basis and a yield of 1.1%. Timken's dividend payout ratio is currently 32.73%.

Insider Activity at Timken

In other Timken news, Director John M. Timken, Jr. sold 15,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $116.51, for a total transaction of $1,747,650.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard G. Kyle sold 37,181 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.34, for a total transaction of $4,362,818.54. Following the completion of the sale, the director directly owned 206,455 shares of the company's stock, valued at $24,225,429.70. The trade was a 15.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,629 shares of company stock worth $7,186,321 in the last 90 days. 8.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley set a $140.00 target price on Timken in a research report on Thursday, May 21st. KeyCorp lifted their price target on Timken from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. DA Davidson upped their price objective on shares of Timken from $117.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, May 21st. Oppenheimer increased their price objective on shares of Timken from $132.00 to $137.00 and gave the stock an "outperform" rating in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Timken in a research report on Monday, April 20th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Timken currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.13.

Timken Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.