SummitTX Capital L.P. Buys New Position in Timken Company (The) $TKR

SummitTX Capital L.P. acquired a new stake in shares of Timken Company (The) (NYSE:TKR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,754 shares of the industrial products company’s stock, valued at approximately $4,300,000. SummitTX Capital L.P. owned approximately 0.06% of Timken as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Royal Bank of Canada boosted 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 acquiring an additional 27,750 shares during the period. 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 worth $25,569,000 after acquiring an additional 211,718 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Timken by 7.6% in 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 worth $16,305,000 after purchasing an additional 16,000 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Timken by 18.7% during the second quarter. Prudential Financial Inc. now owns 6,815 shares of the industrial products company’s stock worth $494,000 after purchasing an additional 1,075 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Timken by 241.7% in the second quarter. Invesco Ltd. now owns 604,879 shares of the industrial products company’s stock worth $43,884,000 after buying an additional 427,879 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on TKR. KeyCorp boosted their price target on shares of Timken from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on shares of Timken from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. The Goldman Sachs Group increased their target price on Timken from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. DA Davidson began coverage on shares of Timken in a research report on Tuesday, June 16th. They issued a “neutral” rating and a $130.00 price target on the stock. Finally, Oppenheimer lifted their price objective on Timken from $147.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.00.

Insider Transactions at Timken

In other Timken news, Director Ajita G. Rajendra sold 8,450 shares of Timken stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $131.34, for a total value of $1,109,823.00. Following the completion of the sale, the director owned 20,225 shares in the company, valued at $2,656,351.50. The trade was a 29.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard G. Kyle sold 8,448 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $127.35, for a total value of $1,075,852.80. Following the sale, the director owned 197,361 shares of the company’s stock, valued at approximately $25,133,923.35. The trade was a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 69,079 shares of company stock valued at $8,296,144. 8.10% of the stock is currently owned by corporate insiders.

Timken Trading Down 0.2%

Shares of NYSE TKR opened at $141.08 on Tuesday. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 1.69 and a beta of 1.20. The company has a quick ratio of 1.55, a current ratio of 2.88 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average is $135.37 and its 200-day moving average is $114.39. Timken Company has a twelve month low of $70.57 and a twelve month high of $146.37.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.17. The firm 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%.The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. Timken has set its FY 2026 guidance at 5.750-6.250 EPS. Equities research analysts predict that Timken Company will post 6.16 EPS for the current year.

Timken Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Timken’s previous quarterly dividend of $0.35. The ex-dividend date was Tuesday, May 19th. Timken’s dividend payout ratio is 32.73%.

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.