Timken Company (The) $TKR Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 73.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,960 shares of the industrial products company's stock after selling 59,127 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Timken were worth $1,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Timken by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company's stock valued at $477,681,000 after purchasing an additional 180,705 shares during the period. American Century Companies Inc. boosted its position in Timken by 7.3% during the 1st quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company's stock valued at $243,648,000 after purchasing an additional 231,435 shares during the period. Dimensional Fund Advisors LP boosted its position in Timken by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,367,167 shares of the industrial products company's stock valued at $170,124,000 after purchasing an additional 133,674 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in Timken by 2.4% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,990,929 shares of the industrial products company's stock valued at $143,088,000 after purchasing an additional 46,090 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Timken by 108.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock valued at $132,372,000 after purchasing an additional 959,672 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on Timken in a research report on Monday, September 15th. They set a "neutral" rating and a $80.00 price target for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Timken in a research report on Saturday, September 27th. Citigroup boosted their price target on Timken from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. DA Davidson boosted their price target on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Evercore ISI set a $84.00 price target on Timken and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Timken currently has a consensus rating of "Hold" and an average target price of $80.73.

Timken Stock Up 0.8%

Shares of Timken stock opened at $76.56 on Friday. The stock's fifty day moving average is $76.71 and its 200-day moving average is $72.61. The firm has a market capitalization of $5.33 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.67 and a beta of 1.26. The company has a quick ratio of 1.72, a current ratio of 3.13 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.

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 for the quarter, beating the consensus estimate of $1.34 by $0.08. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Timken had a return on equity of 11.78% and a net margin of 6.86%.Timken's quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 earnings per share. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. Equities analysts anticipate that Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

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

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