Timken Company (The) $TKR Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its holdings in shares of Timken Company (The) (NYSE:TKR) by 1.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 46,110 shares of the industrial products company’s stock after selling 745 shares during the quarter. QRG Capital Management Inc.’s holdings in Timken were worth $3,345,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of 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 in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Timken by 77.8% in the 1st quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company’s stock valued at $856,000 after purchasing an additional 5,212 shares during the period. State of Alaska Department of Revenue increased its stake in Timken by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 190 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 worth $477,681,000 after buying an additional 180,705 shares during the period. Finally, Jump Financial LLC acquired a new stake in Timken during the 1st quarter worth about $259,000. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Evercore ISI set a $84.00 target price on shares of Timken and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Timken in a research note on Saturday, September 27th. Citigroup boosted their target price on shares of Timken from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. DA Davidson increased 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. Finally, JPMorgan Chase & Co. began coverage on Timken in a report on Monday, September 15th. They set a “neutral” rating and a $80.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.73.

Timken Price Performance

TKR opened at $76.85 on Tuesday. The stock has a fifty day moving average price of $76.61 and a 200 day moving average price of $72.60. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. Timken Company has a 1 year low of $56.20 and a 1 year high of $87.52. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.68 and a beta of 1.26.

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

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were given a $0.35 dividend. 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 currently 31.82%.

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.