QRG Capital Management Inc. Has $1.17 Million Holdings in Timken Company (The) $TKR

QRG Capital Management Inc. trimmed its holdings in shares of Timken Company (The) (NYSE:TKR) by 66.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,508 shares of the industrial products company’s stock after selling 30,602 shares during the quarter. QRG Capital Management Inc.’s holdings in Timken were worth $1,166,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cooke & Bieler LP lifted its position in shares of Timken by 341.0% during the 2nd quarter. Cooke & Bieler LP now owns 1,106,981 shares of the industrial products company’s stock valued at $80,311,000 after acquiring an additional 855,961 shares during the period. American Century Companies Inc. increased its stake in Timken by 13.4% in the second quarter. American Century Companies Inc. now owns 3,845,175 shares of the industrial products company’s stock valued at $278,968,000 after purchasing an additional 455,050 shares in the last quarter. Invesco Ltd. increased its stake in Timken by 241.7% in the second quarter. Invesco Ltd. now owns 604,879 shares of the industrial products company’s stock valued at $43,884,000 after purchasing an additional 427,879 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Timken by 57.3% during the second quarter. Bank of New York Mellon Corp now owns 1,107,778 shares of the industrial products company’s stock valued at $80,369,000 after purchasing an additional 403,629 shares during the period. Finally, Brandes Investment Partners LP boosted its position in shares of Timken by 358.8% during the 2nd quarter. Brandes Investment Partners LP now owns 513,641 shares of the industrial products company’s stock worth $37,265,000 after purchasing an additional 401,694 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Timken from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. DA Davidson raised their price objective on Timken from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Timken in a report on Wednesday, October 8th. Oppenheimer reiterated an “outperform” rating on shares of Timken in a report on Monday, November 24th. Finally, Citigroup lifted their price target on shares of Timken from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $83.70.

Timken Stock Down 3.1%

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

Timken (NYSE:TKR) last announced 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. Timken had a return on equity of 11.88% and a net margin of 6.54%.The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Timken’s revenue was up 2.7% compared to the same quarter last year. Timken has set its FY 2025 guidance at 5.200-5.300 EPS. Sell-side analysts expect that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 25th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, November 25th. Timken’s dividend payout ratio (DPR) is presently 33.10%.

Insiders Place Their Bets

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