Timken (NYSE:TKR) Price Target Raised to $85.00 at JPMorgan Chase & Co.

Timken (NYSE:TKR) had its price target hoisted by JPMorgan Chase & Co. from $80.00 to $85.00 in a research report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on the stock. DA Davidson lifted their price objective on shares of Timken from $71.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Citigroup increased their target price on Timken from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Evercore ISI set a $84.00 price target on Timken and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Timken in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $82.36.

Timken Stock Performance

Shares of Timken stock opened at $78.63 on Thursday. The company has a current ratio of 3.11, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $76.54 and its 200-day moving average price is $73.70. The firm has a market cap of $5.48 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.74 and a beta of 1.26. Timken has a 12 month low of $56.20 and a 12 month high of $84.86.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.12. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 6.54% and a return on equity of 11.88%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS. Timken has set its FY 2025 guidance at 5.200-5.300 EPS. On average, equities research analysts expect that Timken will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, August 19th. Timken’s dividend payout ratio is currently 31.82%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Timken by 2.8% in 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 buying an additional 180,705 shares during the last quarter. American Century Companies Inc. raised its position in shares of Timken by 13.4% in 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 purchasing an additional 455,050 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Timken by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,367,167 shares of the industrial products company’s stock worth $170,124,000 after purchasing an additional 133,674 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Timken by 2.4% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,990,929 shares of the industrial products company’s stock worth $143,088,000 after purchasing an additional 46,090 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Timken by 108.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company’s stock valued at $132,372,000 after purchasing an additional 959,672 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

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.