Voya Investment Management LLC Sells 13,685 Shares of Timken Company (The) $TKR

Key Points

• Voya Investment Management LLC reduced its stake in Timken Company by 62.3%, selling 13,685 shares, and now owns 8,294 shares valued at $596,000.
• Timken's stock price decreased by 1.9%, with the share trading at $74.21, and has a market cap of $5.17 billion.
• The company recently declared a quarterly dividend of $0.35 per share, representing an annualized dividend yield of 1.9%.

Voya Investment Management LLC trimmed its stake in Timken Company (The) (NYSE:TKR - Free Report) by 62.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,294 shares of the industrial products company's stock after selling 13,685 shares during the period. Voya Investment Management LLC's holdings in Timken were worth $596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its holdings in shares of Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock worth $72,000 after buying an additional 800 shares during the period. GAMMA Investing LLC lifted its position in Timken by 282.3% during the 1st 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 bought a new stake in Timken during the first quarter valued at about $108,000. Blue Trust Inc. grew its position in shares of Timken by 9.2% in the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company's stock valued at $147,000 after purchasing an additional 173 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Timken by 162.6% in the first quarter. Quarry LP now owns 2,101 shares of the industrial products company's stock worth $151,000 after purchasing an additional 1,301 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Timken Stock Down 1.9%

Shares of TKR stock opened at $74.21 on Friday. Timken Company has a one year low of $56.20 and a one year high of $87.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.13 and a quick ratio of 1.72. The stock has a fifty day moving average price of $77.27 and a 200 day moving average price of $72.55. The stock has a market cap of $5.17 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.08. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.15 billion. Timken had a net margin of 6.86% and a return on equity of 11.78%. The business's revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. Analysts predict that Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 19th. Timken's payout ratio is presently 31.82%.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of research analyst reports. DA Davidson raised their target price on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Evercore ISI set a $84.00 price objective on Timken and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Citigroup raised their price objective on shares of Timken from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. began coverage on shares of Timken in a research note on Monday, September 15th. They set a "neutral" rating and a $80.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $80.73.

Timken Company 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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