Truist Financial Corp Has $2.05 Million Stake in The Timken Company (NYSE:TKR)

Truist Financial Corp reduced its stake in The Timken Company (NYSE:TKR) by 8.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,614 shares of the industrial products company’s stock after selling 2,399 shares during the quarter. Truist Financial Corp’s holdings in Timken were worth $2,053,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Timken in the fourth quarter valued at approximately $12,398,000. WCM Investment Management LLC raised its holdings in Timken by 8.7% in the 4th quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company’s stock worth $16,443,000 after acquiring an additional 16,322 shares during the period. Duality Advisers LP lifted its position in Timken by 226.3% during the 4th quarter. Duality Advisers LP now owns 27,790 shares of the industrial products company’s stock worth $2,227,000 after acquiring an additional 19,274 shares during the last quarter. Foundry Partners LLC boosted its holdings in Timken by 5.6% during the fourth quarter. Foundry Partners LLC now owns 87,323 shares of the industrial products company’s stock valued at $6,999,000 after acquiring an additional 4,598 shares during the period. Finally, Citigroup Inc. grew its position in shares of Timken by 64.5% in the third quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company’s stock valued at $883,000 after purchasing an additional 4,712 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TKR shares. KeyCorp increased their price target on shares of Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI lowered Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a research note on Tuesday, February 20th. DA Davidson assumed coverage on Timken in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price objective for the company. Loop Capital boosted their price objective on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Finally, Oppenheimer reissued an “outperform” rating and set a $100.00 price target (up from $97.00) on shares of Timken in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $87.09.

Timken Trading Up 1.6 %

TKR opened at $91.29 on Friday. The Timken Company has a 1-year low of $65.71 and a 1-year high of $95.08. The stock has a market capitalization of $6.43 billion, a PE ratio of 17.39, a PEG ratio of 1.21 and a beta of 1.51. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $86.68 and a two-hundred day moving average price of $80.49.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. Timken’s revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.49%. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s payout ratio is presently 25.14%.

Insider Activity

In other news, CEO Richard G. Kyle sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total value of $1,781,800.00. Following the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the sale, the executive vice president now directly owns 84,995 shares in the company, valued at approximately $7,590,053.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the sale, the chief executive officer now owns 366,799 shares in the company, valued at $32,678,122.91. The disclosure for this sale can be found here. Insiders have sold 59,006 shares of company stock valued at $5,269,636 over the last 90 days. 8.70% of the stock is owned by company insiders.

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.