Wealth High Governance Asset Management Ltda. reduced its stake in Timken Company (The) (NYSE:TKR – Free Report) by 15.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,634 shares of the industrial products company’s stock after selling 10,934 shares during the period. Timken makes up approximately 2.1% of Wealth High Governance Asset Management Ltda.’s portfolio, making the stock its 22nd biggest position. Wealth High Governance Asset Management Ltda. owned about 0.09% of Timken worth $5,997,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in TKR. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Timken during the 4th quarter worth approximately $25,000. Clearstead Advisors LLC lifted its stake in Timken by 130.3% during the fourth quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Timken during the fourth quarter worth about $31,000. Kestra Investment Management LLC acquired a new stake in shares of Timken during the second quarter worth about $42,000. Finally, Danske Bank A S purchased a new stake in Timken during the 3rd quarter worth approximately $45,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.
Timken Stock Performance
NYSE TKR opened at $137.69 on Monday. The company has a fifty day moving average of $136.97 and a two-hundred day moving average of $115.69. The company has a market capitalization of $9.57 billion, a PE ratio of 31.29, a P/E/G ratio of 1.64 and a beta of 1.21. Timken Company has a 1 year low of $70.57 and a 1 year high of $146.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.88 and a quick ratio of 1.55.
Timken Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This is a positive change from Timken’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.0%. Timken’s dividend payout ratio is currently 32.73%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on TKR shares. KeyCorp increased their price objective on Timken from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Timken in a research note on Friday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Timken from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, July 13th. DA Davidson started coverage on shares of Timken in a research note on Tuesday, June 16th. They issued a “neutral” rating and a $130.00 price target for the company. Finally, Citigroup raised their price objective on shares of Timken from $140.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Timken has a consensus rating of “Moderate Buy” and an average target price of $150.00.
Check Out Our Latest Analysis on Timken
Insider Transactions at Timken
In related news, Director John M. Timken, Jr. sold 15,000 shares of the stock in a transaction on Friday, May 8th. The stock was 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 of the company’s stock, valued at $30,845,323.44. This trade represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ajita G. Rajendra sold 8,450 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $131.34, for a total transaction of $1,109,823.00. Following the transaction, the director directly owned 20,225 shares of the company’s stock, valued at $2,656,351.50. This represents a 29.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 69,079 shares of company stock worth $8,296,144. Company insiders own 8.10% of the company’s stock.
Timken 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.
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