Penserra Capital Management LLC Acquires 3,506 Shares of Timken Company (The) $TKR

Penserra Capital Management LLC increased its holdings in Timken Company (The) (NYSE:TKR) by 65.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,862 shares of the industrial products company’s stock after purchasing an additional 3,506 shares during the period. Penserra Capital Management LLC’s holdings in Timken were worth $642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its position in shares of Timken by 77.8% during the first quarter. Teacher Retirement System of Texas now owns 11,912 shares of the industrial products company’s stock valued at $856,000 after buying an additional 5,212 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Timken by 108.1% during the 1st quarter. New York State Common Retirement Fund now owns 424,121 shares of the industrial products company’s stock valued at $30,482,000 after acquiring an additional 220,294 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Timken by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the industrial products company’s stock worth $1,286,000 after purchasing an additional 200 shares during the last quarter. Victory Capital Management Inc. raised its stake in Timken by 108.8% during the first 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. Finally, Verdence Capital Advisors LLC lifted its position in Timken by 31.2% during the first quarter. Verdence Capital Advisors LLC now owns 5,943 shares of the industrial products company’s stock valued at $427,000 after purchasing an additional 1,413 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Stock Down 0.8%

Shares of NYSE TKR opened at $78.23 on Wednesday. Timken Company has a 12-month low of $56.20 and a 12-month high of $84.43. The stock’s fifty day simple moving average is $76.54 and its two-hundred day simple moving average is $74.76. The stock has a market capitalization of $5.45 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31. The company has a current ratio of 3.11, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63.

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

Analysts Set New Price Targets

TKR has been the topic of a number of research reports. Evercore ISI set a $84.00 target price on shares of Timken and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Timken in a research note on Wednesday, October 8th. The Goldman Sachs Group restated a “neutral” rating and set a $88.00 price objective on shares of Timken in a research report on Thursday, October 30th. Citigroup boosted 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. Finally, DA Davidson raised their price target on Timken from $80.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $82.20.

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.