Raymond James Financial Inc. Has $15.30 Million Stock Position in Timken Company (The) $TKR

Key Points

• Raymond James Financial Inc. increased its stake in Timken Company by 5.1%, acquiring an additional 10,327 shares, bringing its total ownership to 212,935 shares worth approximately $15.3 million.
• Timken reported earnings of $1.42 per share for the last quarter, exceeding expectations, while forecasting an EPS of $5.100-$5.400 for FY 2025.
• The company announced a quarterly dividend of $0.35 per share, with a yield of 1.8%, to be paid to shareholders on August 29.

Raymond James Financial Inc. grew its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,935 shares of the industrial products company's stock after acquiring an additional 10,327 shares during the quarter. Raymond James Financial Inc. owned 0.30% of Timken worth $15,304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock worth $82,000 after buying an additional 847 shares during the period. Teacher Retirement System of Texas boosted its position in Timken by 77.8% during the first quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock valued at $856,000 after purchasing an additional 5,212 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Timken by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock valued at $2,523,000 after purchasing an additional 190 shares during the last quarter. Vanguard Group Inc. boosted its position in Timken by 2.8% during the first quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company's stock valued at $477,681,000 after purchasing an additional 180,705 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Timken by 48.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 530,734 shares of the industrial products company's stock valued at $36,483,000 after purchasing an additional 174,145 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on TKR shares. DA Davidson increased their price target on Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Citigroup upped their price objective on Timken from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Evercore ISI set a $84.00 price objective on Timken and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $79.80.

Timken Stock Performance

NYSE:TKR traded down $1.44 during mid-day trading on Wednesday, hitting $75.05. 548,003 shares of the stock were exchanged, compared to its average volume of 576,377. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. The firm's 50-day simple moving average is $77.04 and its 200 day simple moving average is $72.81. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 3.13. Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $87.52.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.08. The firm had revenue of $1.17 billion during 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 company's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 EPS. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. As a group, equities analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.40 annualized dividend and a yield of 1.9%. Timken's payout ratio is currently 31.82%.

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.