Norges Bank Buys New Position in Timken Company (The) $TKR

Norges Bank acquired a new position in Timken Company (The) (NYSE:TKR) in the 4th quarter, Holdings Channel reports. The firm acquired 566,311 shares of the industrial products company’s stock, valued at approximately $47,644,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TKR. Clearstead Advisors LLC lifted its position in Timken by 130.3% during the fourth quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company’s stock valued at $26,000 after buying an additional 172 shares during the period. Eastern Bank purchased a new position in Timken during the fourth quarter valued at $27,000. V Square Quantitative Management LLC purchased a new position in Timken during the fourth quarter valued at $31,000. Kestra Investment Management LLC bought a new stake in Timken in the second quarter worth $42,000. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Timken by 11,500.0% in the fourth quarter. Capital Advisors Ltd. LLC now owns 580 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the subject of several analyst reports. Morgan Stanley set a $140.00 price target on Timken in a report on Thursday, May 21st. Evercore reissued an “outperform” rating and set a $158.00 price objective on shares of Timken in a research report on Monday, May 11th. The Goldman Sachs Group set a $128.00 target price on shares of Timken in a report on Friday, May 22nd. Oppenheimer raised their price target on shares of Timken from $137.00 to $147.00 and gave the company an “outperform” rating in a research report on Friday. Finally, KeyCorp upped their price objective on Timken from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Timken has an average rating of “Moderate Buy” and a consensus target price of $140.38.

Timken Stock Performance

Shares of TKR opened at $132.04 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.88 and a quick ratio of 1.55. Timken Company has a one year low of $69.25 and a one year high of $134.12. The firm has a market capitalization of $9.18 billion, a P/E ratio of 30.01, a PEG ratio of 1.58 and a beta of 1.21. The business has a fifty day moving average of $112.43 and a 200 day moving average of $100.24.

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

Timken Increases Dividend

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

Insider Buying and Selling

In related news, Director John M. Timken, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $116.51, for a total transaction of $1,747,650.00. Following the completion of the sale, the director directly owned 264,744 shares in the company, valued at approximately $30,845,323.44. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard G. Kyle sold 37,181 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.34, for a total transaction of $4,362,818.54. Following the sale, the director directly owned 206,455 shares of the company’s stock, valued at approximately $24,225,429.70. This represents a 15.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 60,629 shares of company stock worth $7,186,321. 8.10% of the stock is currently owned by insiders.

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.