QRG Capital Management Inc. Sells 30,602 Shares of Timken Company (The) $TKR

QRG Capital Management Inc. reduced its stake in Timken Company (The) (NYSE:TKR) by 66.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,508 shares of the industrial products company’s stock after selling 30,602 shares during the period. QRG Capital Management Inc.’s holdings in Timken were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. CWM LLC lifted its stake in Timken by 31.4% in the 2nd quarter. CWM LLC now owns 527 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 126 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Timken by 2.4% during the second quarter. Verdence Capital Advisors LLC now owns 6,083 shares of the industrial products company’s stock worth $441,000 after buying an additional 140 shares in the last quarter. First National Advisers LLC lifted its stake in shares of Timken by 0.5% in the 3rd quarter. First National Advisers LLC now owns 37,135 shares of the industrial products company’s stock valued at $2,792,000 after acquiring an additional 167 shares during the last quarter. Slocum Gordon & Co LLP boosted its holdings in shares of Timken by 2.4% during the 3rd quarter. Slocum Gordon & Co LLP now owns 7,581 shares of the industrial products company’s stock valued at $570,000 after acquiring an additional 181 shares in the last quarter. Finally, HM Payson & Co. grew its position in Timken by 10.0% during the 3rd quarter. HM Payson & Co. now owns 2,364 shares of the industrial products company’s stock worth $178,000 after acquiring an additional 214 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 15,837 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $81.03, for a total transaction of $1,283,272.11. Following the completion of the sale, the director directly owned 266,942 shares in the company, valued at approximately $21,630,310.26. This trade represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. DA Davidson increased their target price on Timken from $80.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $88.00 price objective on shares of Timken in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Timken in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Timken from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen raised shares of Timken from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Timken presently has an average rating of “Hold” and a consensus target price of $83.70.

Timken Stock Performance

Shares of TKR stock opened at $90.65 on Wednesday. The stock has a market capitalization of $6.31 billion, a PE ratio of 21.43, a PEG ratio of 1.82 and a beta of 1.21. The business’s 50 day simple moving average is $84.64 and its 200 day simple moving average is $79.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.11 and a quick ratio of 1.71. Timken Company has a one year low of $56.20 and a one year high of $94.40.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.12. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 6.54% and a return on equity of 11.88%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 EPS. Timken has set its FY 2025 guidance at 5.200-5.300 EPS. As a group, research analysts forecast that Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 25th were issued a $0.35 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $1.40 annualized dividend and a yield of 1.5%. Timken’s payout ratio is presently 33.10%.

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.