Geode Capital Management LLC Has $79.50 Million Stock Holdings in Timken Company (The) $TKR

Geode Capital Management LLC decreased its position in Timken Company (The) (NYSE:TKR) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,095,674 shares of the industrial products company’s stock after selling 19,261 shares during the quarter. Geode Capital Management LLC’s holdings in Timken were worth $79,503,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Channing Capital Management LLC boosted its position in Timken by 631.7% in the 1st quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company’s stock valued at $77,883,000 after buying an additional 935,554 shares during the last quarter. Cooke & Bieler LP lifted its stake in shares of Timken by 341.0% during the second 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. Bank of New York Mellon Corp lifted its stake 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 acquiring an additional 403,629 shares during the period. American Century Companies Inc. boosted its holdings in Timken by 7.3% in the first quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company’s stock valued at $243,648,000 after acquiring an additional 231,435 shares during the last quarter. Finally, Millennium Management LLC increased its position in Timken by 48.5% in the first quarter. Millennium Management LLC now owns 681,379 shares of the industrial products company’s stock worth $48,971,000 after purchasing an additional 222,679 shares during the period. 89.08% of the stock is owned by institutional investors.

Timken Trading Up 3.8%

Shares of NYSE TKR opened at $77.42 on Friday. Timken Company has a twelve month low of $56.20 and a twelve month high of $84.43. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.74 and a beta of 1.31. The company has a quick ratio of 1.72, a current ratio of 3.11 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average is $76.38 and its 200-day moving average is $75.29.

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

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, November 25th. Timken’s payout ratio is 33.10%.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Timken in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Timken from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $88.00 target price on shares of Timken in a report on Thursday, October 30th. Evercore ISI set a $84.00 target price on shares of Timken and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Finally, Citigroup raised their price target on Timken from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $82.20.

Timken 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.