Fintel reports that on October 14, 2024, Citigroup initiated coverage of Timken (NYSE:TKR) with a Neutral recommendation.
Analyst Price Forecast Suggests 11.79% Upside
As of September 25, 2024, the average one-year price target for Timken is $94.63/share. The forecasts range from a low of $83.83 to a high of $109.20. The average price target represents an increase of 11.79% from its latest reported closing price of $84.65 / share.
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The projected annual revenue for Timken is 4,894MM, an increase of 6.24%. The projected annual non-GAAP EPS is 7.12.
What is the Fund Sentiment?
There are 961 funds or institutions reporting positions in Timken. This is an decrease of 9 owner(s) or 0.93% in the last quarter. Average portfolio weight of all funds dedicated to TKR is 0.22%, an increase of 9.72%. Total shares owned by institutions increased in the last three months by 1.36% to 72,901K shares. 
The put/call ratio of TKR is 0.85, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 3,010K shares representing 4.29% ownership of the company. In its prior filing, the firm reported owning 2,977K shares , representing an increase of 1.10%. The firm decreased its portfolio allocation in TKR by 85.91% over the last quarter.
American Century Companies holds 2,817K shares representing 4.02% ownership of the company. In its prior filing, the firm reported owning 2,689K shares , representing an increase of 4.57%. The firm decreased its portfolio allocation in TKR by 6.48% over the last quarter.
Thrivent Financial For Lutherans holds 2,572K shares representing 3.67% ownership of the company. In its prior filing, the firm reported owning 2,582K shares , representing a decrease of 0.36%. The firm decreased its portfolio allocation in TKR by 8.37% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,015K shares representing 2.87% ownership of the company. In its prior filing, the firm reported owning 2,021K shares , representing a decrease of 0.29%. The firm decreased its portfolio allocation in TKR by 6.45% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,014K shares representing 2.87% ownership of the company. In its prior filing, the firm reported owning 2,010K shares , representing an increase of 0.20%. The firm decreased its portfolio allocation in TKR by 10.70% 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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