New England Research & Management Inc. Trims Position in Timken Company (The) $TKR

New England Research & Management Inc. lessened its stake in shares of Timken Company (The) (NYSE:TKR) by 4.5% in the second quarter, Holdings Channel reports. The institutional investor owned 13,350 shares of the industrial products company’s stock after selling 625 shares during the quarter. New England Research & Management Inc.’s holdings in Timken were worth $969,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TKR. Livelsberger Financial Advisory bought a new stake in shares of Timken during the 2nd quarter valued at about $28,000. UMB Bank n.a. boosted its position 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 valued at $72,000 after acquiring an additional 800 shares during the last quarter. GAMMA Investing LLC boosted its position 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 valued at $82,000 after acquiring an additional 847 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Timken during the 1st quarter valued at about $108,000. Finally, Blue Trust Inc. boosted its position in shares of Timken by 9.2% during the 1st quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TKR. DA Davidson boosted their target price on Timken from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. began coverage on Timken in a research report on Monday. They issued a “neutral” rating and a $80.00 target price for the company. Citigroup boosted their target price on Timken from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Finally, Evercore ISI set a $84.00 target price 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 seven have issued a Hold rating to the stock. According to data from MarketBeat, Timken currently has an average rating of “Hold” and an average price target of $79.82.

Timken Trading Down 0.2%

Timken stock opened at $77.38 on Tuesday. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $77.39 and its two-hundred day simple moving average is $72.46. Timken Company has a 12 month low of $56.20 and a 12 month high of $87.52. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25.

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

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 19th. Timken’s dividend payout ratio is presently 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.