Fintel reports that on September 13, 2023, Stifel reiterated coverage of Timken (NYSE:TKR) with a Buy recommendation.
Analyst Price Forecast Suggests 34.18% Upside
As of August 30, 2023, the average one-year price target for Timken is 95.99. The forecasts range from a low of 82.82 to a high of $110.25. The average price target represents an increase of 34.18% from its latest reported closing price of 71.54.
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The projected annual revenue for Timken is 4,791MM, an increase of 0.79%. The projected annual non-GAAP EPS is 6.71.
Timken Declares $0.33 Dividend
On August 2, 2023 the company declared a regular quarterly dividend of $0.33 per share ($1.32 annualized). Shareholders of record as of August 15, 2023 received the payment on August 28, 2023. Previously, the company paid $0.33 per share.
At the current share price of $71.54 / share, the stock's dividend yield is 1.85%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.03%, the lowest has been 1.33%, and the highest has been 4.43%. The standard deviation of yields is 0.53 (n=236).
The current dividend yield is 0.35 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 935 funds or institutions reporting positions in Timken. This is a decrease of 14 owner(s) or 1.48% in the last quarter. Average portfolio weight of all funds dedicated to TKR is 0.28%, an increase of 1.53%. Total shares owned by institutions decreased in the last three months by 3.32% to 75,735K shares. 
The put/call ratio of TKR is 0.60, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 3,095K shares representing 4.36% ownership of the company. In it's prior filing, the firm reported owning 2,961K shares, representing an increase of 4.34%. The firm increased its portfolio allocation in TKR by 731.75% over the last quarter.
Thrivent Financial For Lutherans holds 2,268K shares representing 3.19% ownership of the company. In it's prior filing, the firm reported owning 1,921K shares, representing an increase of 15.29%. The firm increased its portfolio allocation in TKR by 184.39% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,036K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 2,020K shares, representing an increase of 0.81%. The firm increased its portfolio allocation in TKR by 4.18% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,998K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 2,042K shares, representing a decrease of 2.19%. The firm increased its portfolio allocation in TKR by 4.99% over the last quarter.
American Century Companies holds 1,695K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 1,390K shares, representing an increase of 17.99%. The firm increased its portfolio allocation in TKR by 30.70% 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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