Timken (NYSE:TKR) Hits New 1-Year High – Here’s What Happened

Timken Company (The) (NYSE:TKR)’s share price reached a new 52-week high on Tuesday . The company traded as high as $92.20 and last traded at $92.27, with a volume of 39904 shares changing hands. The stock had previously closed at $90.83.

Analysts Set New Price Targets

TKR has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Timken from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of Timken from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $88.00 target price on shares of Timken in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Timken in a research report on Wednesday, October 8th. Finally, Citigroup boosted their price target on Timken from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.70.

Timken Trading Up 1.9%

The company has a current ratio of 3.11, a quick ratio of 1.71 and a debt-to-equity ratio of 0.63. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 1.75 and a beta of 1.21. The firm’s 50-day moving average is $83.49 and its 200-day moving average is $79.14.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. Timken had a net margin of 6.54% and a return on equity of 11.88%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $1.23 EPS. The firm’s quarterly 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. As a group, sell-side analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. Timken’s dividend payout ratio is 33.10%.

Insider Transactions at Timken

In other 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 transaction of $1,283,272.11. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of Timken by 44.2% during the first quarter. Royal Bank of Canada now owns 90,550 shares of the industrial products company’s stock valued at $6,508,000 after purchasing an additional 27,750 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Timken by 147.0% during the first quarter. Goldman Sachs Group Inc. now owns 355,765 shares of the industrial products company’s stock valued at $25,569,000 after purchasing an additional 211,718 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Timken by 7.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,872 shares of the industrial products company’s stock valued at $16,305,000 after acquiring an additional 16,000 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Timken by 8.1% in the second quarter. Wedge Capital Management L L P NC now owns 188,771 shares of the industrial products company’s stock worth $13,695,000 after purchasing an additional 14,140 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Timken by 664.6% in the second quarter. Farther Finance Advisors LLC now owns 1,208 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 1,050 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

About Timken

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.