Janney Montgomery Scott LLC Boosts Stock Position in Timken Company (The) $TKR

Key Points

• Janney Montgomery Scott LLC increased its stake in Timken Company by 13.0% during the 2nd quarter, owning approximately $8.8 million worth of shares.
• Timken reported $1.42 EPS for the last quarter, exceeding expectations, with a revenue of $1.17 billion, although it experienced a 0.8% decline year-over-year.
• The company declared a quarterly dividend of $0.35 per share, representing an annualized yield of 1.8% and a payout ratio of 31.82%.

Janney Montgomery Scott LLC raised its holdings in shares of Timken Company (The) (NYSE:TKR - Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 121,329 shares of the industrial products company's stock after purchasing an additional 13,954 shares during the period. Janney Montgomery Scott LLC owned approximately 0.17% of Timken worth $8,802,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new stake in Timken during the 2nd quarter valued at $28,000. Steph & Co. purchased a new stake in Timken during the 2nd quarter valued at $37,000. UMB Bank n.a. boosted its stake in Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 800 shares during the last quarter. GAMMA Investing LLC boosted its stake in Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Timken by 664.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,208 shares of the industrial products company's stock valued at $88,000 after purchasing an additional 1,050 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Price Performance

NYSE:TKR opened at $76.56 on Friday. The company has a quick ratio of 1.72, a current ratio of 3.13 and a debt-to-equity ratio of 0.65. The business's 50-day simple moving average is $76.71 and its two-hundred day simple moving average is $72.59. The stock has a market cap of $5.33 billion, a PE ratio of 17.40, a P/E/G ratio of 1.68 and a beta of 1.26. Timken Company has a 52 week low of $56.20 and a 52 week high of $87.52.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.08. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.15 billion. Timken had a return on equity of 11.78% and a net margin of 6.86%.The business's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. As a group, analysts forecast that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a yield of 1.8%. Timken's dividend payout ratio (DPR) is currently 31.82%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TKR. Evercore ISI set a $84.00 price target on Timken and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Weiss Ratings restated a "hold (c+)" rating on shares of Timken in a research note on Saturday, September 27th. JPMorgan Chase & Co. began coverage on Timken in a research note on Monday, September 15th. They issued a "neutral" rating and a $80.00 price target on the stock. DA Davidson raised their price target on Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Citigroup raised their price target on Timken from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $80.73.

About Timken

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.

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