Fintel reports that on June 28, 2024, Raymond James initiated coverage of Timken (NYSE:TKR) with a Market Perform recommendation.
Analyst Price Forecast Suggests 19.78% Upside
As of June 12, 2024, the average one-year price target for Timken is 95.98. The forecasts range from a low of 83.83 to a high of $109.20. The average price target represents an increase of 19.78% from its latest reported closing price of 80.13.
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The projected annual revenue for Timken is 4,894MM, an increase of 4.21%. The projected annual non-GAAP EPS is 7.12.
What is the Fund Sentiment?
There are 969 funds or institutions reporting positions in Timken. This is an decrease of 8 owner(s) or 0.82% in the last quarter. Average portfolio weight of all funds dedicated to TKR is 0.24%, an increase of 104.76%. Total shares owned by institutions decreased in the last three months by 1.88% to 72,583K shares. 
The put/call ratio of TKR is 0.89, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 2,977K shares representing 4.23% ownership of the company. In its prior filing, the firm reported owning 3,029K shares , representing a decrease of 1.74%. The firm decreased its portfolio allocation in TKR by 89.49% over the last quarter.
American Century Companies holds 2,689K shares representing 3.82% ownership of the company. In its prior filing, the firm reported owning 1,986K shares , representing an increase of 26.11%. The firm increased its portfolio allocation in TKR by 34.95% over the last quarter.
Thrivent Financial For Lutherans holds 2,582K shares representing 3.67% ownership of the company. In its prior filing, the firm reported owning 2,668K shares , representing a decrease of 3.33%. The firm decreased its portfolio allocation in TKR by 2.64% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,021K shares representing 2.87% ownership of the company. In its prior filing, the firm reported owning 1,970K shares , representing an increase of 2.50%. The firm increased its portfolio allocation in TKR by 0.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,010K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 2,005K shares , representing an increase of 0.27%. The firm decreased its portfolio allocation in TKR by 0.29% over the last quarter.
Timken Background Information
(This description is provided by the company.)
The Timken Company designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, Timken continuously improves the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.8 billion in sales in 2019 and employs more than 17,000 people globally, operating from 42 countries.
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