Timken (NYSE:TKR) Issues Earnings Results

Timken (NYSE:TKR) announced its earnings results on Wednesday. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05, Briefing.com reports. Timken had a net margin of 6.54% and a return on equity of 11.88%. During the same quarter last year, the company earned $1.16 EPS. Timken’s revenue was up 3.5% on a year-over-year basis.

Timken Stock Performance

TKR stock traded up $2.76 during trading hours on Wednesday, hitting $98.90. 92,009 shares of the stock were exchanged, compared to its average volume of 699,715. 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 capitalization of $6.89 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.85 and a beta of 1.21. The company has a 50-day simple moving average of $88.08 and a two-hundred day simple moving average of $80.82. Timken has a 12 month low of $56.20 and a 12 month high of $98.11.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Tuesday, November 25th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. Timken’s payout ratio is 33.10%.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 15,837 shares of Timken stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $81.03, for a total value 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 trade represents a 5.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.37% of the company’s stock.

Hedge Funds Weigh In On Timken

Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG increased its stake in shares of Timken by 734.7% in the 3rd quarter. UBS Group AG now owns 2,286,250 shares of the industrial products company’s stock worth $171,880,000 after acquiring an additional 2,012,352 shares in the last quarter. Invesco Ltd. grew its position in shares of Timken by 124.5% in the 3rd quarter. Invesco Ltd. now owns 1,358,154 shares of the industrial products company’s stock worth $102,106,000 after buying an additional 753,275 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Timken by 22.5% in the second quarter. The Manufacturers Life Insurance Company now owns 726,557 shares of the industrial products company’s stock worth $52,712,000 after purchasing an additional 133,404 shares during the last quarter. Bank of America Corp DE grew its stake in Timken by 9.0% in the 3rd quarter. Bank of America Corp DE now owns 565,912 shares of the industrial products company’s stock valued at $42,545,000 after acquiring an additional 46,610 shares during the period. Finally, Millennium Management LLC lifted its position in Timken by 36.4% during the third quarter. Millennium Management LLC now owns 477,907 shares of the industrial products company’s stock worth $35,929,000 after buying an additional 127,634 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

TKR has been the topic of several research analyst reports. Wall Street Zen raised Timken from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Oppenheimer upped their target price on Timken from $90.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. The Goldman Sachs Group reissued a “neutral” rating and set a $88.00 price target on shares of Timken in a research report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on Timken from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, DA Davidson lifted their target price on Timken from $80.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Timken presently has a consensus rating of “Hold” and a consensus target price of $86.11.

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.