Timken (NYSE:TKR) Now Covered by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage on Timken (NYSE:TKR) with a "neutral" rating and a price target of $80.00, indicating a potential upside of 3.01% from its current stock price.
• Other brokerages, including Citigroup and DA Davidson, also have set price targets of $80.00, while Evercore ISI has a higher target of $84.00, with the consensus rating remaining at "Hold."
• Timken reported earnings of $1.42 per share for the last quarter, exceeding analyst expectations, despite a 0.8% year-over-year revenue decline.

JPMorgan Chase & Co. initiated coverage on shares of Timken (NYSE:TKR - Free Report) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $80.00 target price on the industrial products company's stock.

A number of other equities research analysts have also commented on TKR. DA Davidson raised their price objective on shares of Timken from $71.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Citigroup increased their price objective on shares of Timken from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, Evercore ISI set a $84.00 target price on shares of Timken and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $79.82.

Timken Price Performance

Timken stock traded down $1.39 during trading hours on Monday, hitting $77.71. 176,387 shares of the stock were exchanged, compared to its average volume of 676,758. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 3.13. The stock has a market capitalization of $5.41 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.70 and a beta of 1.25. Timken has a 12 month low of $56.20 and a 12 month high of $87.52. The business's 50-day moving average is $77.41 and its two-hundred day moving average is $72.54.

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

Timken Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in Timken by 108.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock worth $132,372,000 after purchasing an additional 959,672 shares in the last quarter. Channing Capital Management LLC increased its position in shares of Timken by 631.7% during the 1st quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company's stock valued at $77,883,000 after purchasing an additional 935,554 shares during the last quarter. Cooke & Bieler LP increased its position in shares of Timken by 341.0% during the 2nd quarter. Cooke & Bieler LP now owns 1,106,981 shares of the industrial products company's stock valued at $80,311,000 after purchasing an additional 855,961 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Timken by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 3,845,175 shares of the industrial products company's stock valued at $278,968,000 after acquiring an additional 455,050 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Timken by 1,421.1% during the fourth quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock valued at $32,737,000 after buying an additional 428,545 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Company 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.