The Timken Company (NYSE:TKR) Shares Sold by Hsbc Holdings PLC

Posted by on Feb 26th, 2023

Hsbc Holdings PLC decreased its position in The Timken Company (NYSE:TKR – Get Rating) by 8.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 70,046 shares of the industrial products company’s stock after selling 6,357 shares during the period. Hsbc Holdings PLC owned about 0.10% of Timken worth $4,187,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TKR. Raymond James Financial Services Advisors Inc. grew its holdings in Timken by 39.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,335 shares of the industrial products company’s stock valued at $1,599,000 after purchasing an additional 7,408 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Timken by 10.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,312 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 712 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Timken during the first quarter valued at $1,059,000. MetLife Investment Management LLC boosted its stake in shares of Timken by 33.2% during the first quarter. MetLife Investment Management LLC now owns 44,547 shares of the industrial products company’s stock valued at $2,704,000 after acquiring an additional 11,093 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Timken by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,300 shares of the industrial products company’s stock valued at $1,536,000 after acquiring an additional 2,412 shares during the last quarter. Institutional investors and hedge funds own 82.00% of the company’s stock.

Wall Street Analyst Weigh In

TKR has been the topic of a number of analyst reports. Oppenheimer increased their price objective on Timken from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. The Goldman Sachs Group increased their price objective on Timken from $70.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, February 8th. Morgan Stanley increased their price objective on Timken from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 7th. KeyCorp increased their price objective on Timken from $88.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Finally, Citigroup raised their price target on Timken from $78.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Timken presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Timken Stock Performance

Shares of NYSE:TKR opened at $86.00 on Friday. The company has a market cap of $6.23 billion, a P/E ratio of 15.69, a PEG ratio of 1.04 and a beta of 1.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.30 and a current ratio of 2.47. The Timken Company has a one year low of $50.85 and a one year high of $87.86. The business’s 50-day simple moving average is $78.22 and its 200 day simple moving average is $71.37.

Timken (NYSE:TKR – Get Rating) last announced its earnings results on Monday, February 6th. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Timken had a return on equity of 19.52% and a net margin of 9.06%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. On average, sell-side analysts forecast that The Timken Company will post 6.86 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 6th. Investors of record on Tuesday, February 21st will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, February 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.44%. Timken’s payout ratio is currently 22.63%.

About Timken

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The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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