Hotchkis & Wiley Capital Management Reduces $38M in The Timken Company ($TKR)
Key Points
- Hotchkis & Wiley Capital Management changed its The Timken Company ($TKR) stake by 15.1% last quarter, cutting to 1,565,862 shares worth $214.62 million.
- Wall Street's consensus rating on $TKR is Buy and an average price target of $136.55.
- $TKR last traded around $137.06.
Hotchkis & Wiley Capital Management reduced its position in The Timken Company ($TKR) by 15.1% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,565,862 shares of The Timken Company after selling 278,080 shares during the quarter. Hotchkis & Wiley Capital Management's holdings in The Timken Company were worth $214.62 million as of its most recent filing.
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About The Timken Company
The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company operates in two segments, Engineered Bearings and Industrial Motion. The 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. This segment serves wind energy, agriculture, construction, food and beverage, metals and mining, automotive and truck, aerospace, rail, and other industries under the Timken, GGB, and Fafnir brands. The Industrial Motion segment offers a portfolio of engineered products, such as industrial drives, automatic lubrication systems, linear motion products and systems, chains, belts, couplings, filtration systems, seals, and industrial clutches and brakes, as well as industrial drivetrain and bearing repairing services. This segment serves a range of industries comprising solar energy, automation, construction, agriculture and turf, passenger rail, marine, aerospace, packaging and logistics, medical, and others under the Philadelphia Gear, Cone Drive, Rollon, Nadella, Groeneveld, BEKA, Diamond, Drives, Timken Belts, Spinea, Des-Case, Lagersmit, Lovejoy, CGI, and PT Tech brands. The Timken Company was founded in 1899 and is headquartered in North Canton, Ohio.
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