JPMorgan Chase & Co. Initiates Coverage on Timken (NYSE:TKR)

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. started coverage on shares of Timken (NYSE:TKR - Get Free Report) in a report issued on Monday,Benzinga reports. The firm set a "neutral" rating and a $80.00 price target on the industrial products company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 3.01% from the company's current price.

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

Timken Trading Down 1.9%

Shares of NYSE TKR opened at $77.67 on Monday. The stock's 50 day moving average price is $77.35 and its two-hundred day moving average price is $72.48. Timken has a 52-week low of $56.20 and a 52-week high of $87.52. The stock has a market capitalization of $5.41 billion, a P/E ratio of 17.65, a PEG ratio of 1.70 and a beta of 1.25. The company has a quick ratio of 1.72, a current ratio of 3.13 and a debt-to-equity ratio of 0.65.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping 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 in the prior year, the firm earned $1.63 EPS. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. On average, analysts anticipate that Timken will post 5.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Timken

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock worth $82,000 after acquiring an additional 847 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Timken by 77.8% during the 1st quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company's stock worth $856,000 after acquiring an additional 5,212 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Timken by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company's stock worth $2,523,000 after acquiring an additional 190 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Timken by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 6,646,465 shares of the industrial products company's stock worth $477,681,000 after acquiring an additional 180,705 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Timken during the 1st quarter worth $259,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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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