Timken Company (The) $TKR Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its stake in shares of Timken Company (The) (NYSE:TKR) by 65.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,862 shares of the industrial products company’s stock after purchasing an additional 3,506 shares during the quarter. Penserra Capital Management LLC’s holdings in Timken were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of 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 valued at $132,372,000 after acquiring an additional 959,672 shares during the last quarter. Channing Capital Management LLC lifted its position in shares of Timken by 631.7% in the first quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company’s stock valued at $77,883,000 after acquiring an additional 935,554 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of Timken by 341.0% in the second quarter. Cooke & Bieler LP now owns 1,106,981 shares of the industrial products company’s stock worth $80,311,000 after acquiring an additional 855,961 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Timken by 57.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,107,778 shares of the industrial products company’s stock worth $80,369,000 after purchasing an additional 403,629 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Timken by 7.3% during the 1st quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company’s stock valued at $243,648,000 after acquiring an additional 231,435 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen upgraded Timken from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Evercore ISI set a $84.00 price objective on shares of Timken and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. DA Davidson lifted their target price on Timken from $80.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price target on shares of Timken from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Citigroup upped their target price on shares of 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $82.20.

Timken Stock Performance

Shares of TKR stock opened at $78.23 on Wednesday. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.74 and a beta of 1.31. Timken Company has a 1 year low of $56.20 and a 1 year high of $84.43. The stock’s 50-day moving average is $76.54 and its two-hundred day moving average is $74.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.11.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.12. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 11.88% and a net margin of 6.54%.The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 earnings per share. Timken has set its FY 2025 guidance at 5.200-5.300 EPS. Analysts predict that Timken Company will post 5.62 earnings per share for the current year.

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.