Envestnet Asset Management Inc. Sells 8,653 Shares of Timken Company (The) (NYSE:TKR)

Envestnet Asset Management Inc. lessened its holdings in Timken Company (The) (NYSE:TKR - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 169,450 shares of the industrial products company's stock after selling 8,653 shares during the period. Envestnet Asset Management Inc. owned about 0.24% of Timken worth $12,178,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Amundi raised its holdings in shares of Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after purchasing an additional 174 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in Timken during the fourth quarter valued at $66,000. UMB Bank n.a. grew its position in Timken by 400.0% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after buying an additional 800 shares during the period. GAMMA Investing LLC grew its position in Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after buying an additional 847 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in Timken during the first quarter valued at $108,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer dropped their target price on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 target price (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Loop Capital reduced their price target on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. DA Davidson boosted their price target on shares of Timken from $71.00 to $80.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their price target on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $79.90.

Timken Price Performance

NYSE TKR traded up $0.86 on Tuesday, reaching $79.49. The company's stock had a trading volume of 179,687 shares, compared to its average volume of 587,056. Timken Company has a twelve month low of $56.20 and a twelve month high of $90.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The stock has a market cap of $5.56 billion, a PE ratio of 17.12, a PEG ratio of 1.89 and a beta of 1.27. The firm's 50 day moving average is $73.04 and its two-hundred day moving average is $72.84.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. Timken's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. As a group, sell-side analysts predict that Timken Company will post 5.62 EPS for the current year.

Timken Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a $0.35 dividend. This is a boost from Timken's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.76%. Timken's dividend payout ratio (DPR) is currently 30.17%.

Timken 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.