Bank of New York Mellon Corp Sells 370,814 Shares of Timken Company (The) $TKR

Bank of New York Mellon Corp trimmed its holdings in shares of Timken Company (The) (NYSE:TKR) by 24.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,122,353 shares of the industrial products company’s stock after selling 370,814 shares during the period. Bank of New York Mellon Corp’s holdings in Timken were worth $94,424,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of TKR. UBS Group AG boosted its holdings in shares of Timken by 734.7% during the 3rd quarter. UBS Group AG now owns 2,286,250 shares of the industrial products company’s stock worth $171,880,000 after buying an additional 2,012,352 shares in the last quarter. Invesco Ltd. raised its position in shares of Timken by 124.5% during the third quarter. Invesco Ltd. now owns 1,358,154 shares of the industrial products company’s stock worth $102,106,000 after purchasing an additional 753,275 shares during the period. Norges Bank acquired a new position in shares of Timken during the fourth quarter worth approximately $47,644,000. Deprince Race & Zollo Inc. raised its position in shares of Timken by 90.4% during the fourth quarter. Deprince Race & Zollo Inc. now owns 573,069 shares of the industrial products company’s stock worth $48,212,000 after purchasing an additional 272,135 shares during the period. Finally, Shellback Capital LP acquired a new position in shares of Timken during the second quarter worth approximately $19,023,000. 89.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Richard G. Kyle sold 37,181 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.34, for a total value of $4,362,818.54. Following the completion of the transaction, the director directly owned 206,455 shares of the company’s stock, valued at $24,225,429.70. This represents a 15.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John M. Timken, Jr. sold 15,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 264,744 shares of the company’s stock, valued at approximately $30,845,323.44. The trade was a 5.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 60,629 shares of company stock valued at $7,186,321. Insiders own 8.10% of the company’s stock.

Timken Price Performance

TKR stock opened at $134.49 on Tuesday. The firm has a 50 day moving average of $113.14 and a 200-day moving average of $100.67. The firm has a market capitalization of $9.35 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21. Timken Company has a 12 month low of $69.25 and a 12 month high of $136.59. The company has a current ratio of 2.88, a quick ratio of 1.55 and a debt-to-equity ratio of 0.60.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.17. Timken had a net margin of 6.60% and a return on equity of 11.84%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business earned $1.40 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Timken has set its FY 2026 guidance at 5.750-6.250 EPS. As a group, sell-side analysts predict that Timken Company will post 6.13 earnings per share for the current fiscal year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.1%. This is a positive change from Timken’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, May 19th. Timken’s payout ratio is currently 32.73%.

Wall Street Analyst Weigh In

TKR has been the topic of a number of research reports. Citigroup upped their target price on Timken from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley set a $140.00 target price on Timken in a research report on Thursday, May 21st. KeyCorp upped their target price on Timken from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group set a $128.00 target price on Timken in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. raised Timken from a “neutral” rating to an “overweight” rating and increased their price target for the company from $130.00 to $150.00 in a research report on Tuesday, May 26th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Timken presently has an average rating of “Moderate Buy” and an average price target of $140.38.

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.