Schechter Investment Advisors LLC Sells 5,231 Shares of Timken Company (The) (NYSE:TKR)

Schechter Investment Advisors LLC lessened its stake in shares of Timken Company (The) (NYSE:TKR - Free Report) by 24.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,095 shares of the industrial products company's stock after selling 5,231 shares during the quarter. Schechter Investment Advisors LLC's holdings in Timken were worth $1,157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amundi lifted its position in shares of Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after buying an additional 174 shares during the period. Parvin Asset Management LLC bought a new position in Timken in the 4th quarter valued at $66,000. UMB Bank n.a. raised its position in Timken by 400.0% in the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 800 shares during the last quarter. GAMMA Investing LLC raised its position in Timken by 282.3% in the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock valued at $82,000 after purchasing an additional 847 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Timken in the 1st quarter valued at $108,000. Institutional investors own 89.08% of the company's stock.

Timken Price Performance

Shares of TKR traded up $2.56 during midday trading on Thursday, hitting $79.24. The company's stock had a trading volume of 626,682 shares, compared to its average volume of 585,946. Timken Company has a one year low of $56.20 and a one year high of $90.49. The company's fifty day simple moving average is $72.82 and its two-hundred day simple moving average is $72.76. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.27.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The business 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 revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. As a group, equities analysts expect that Timken Company will post 5.62 earnings per share for the current fiscal 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 paid a dividend of $0.35 per share. This is an increase from Timken's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, May 13th. Timken's dividend payout ratio is 30.17%.

Analysts Set New Price Targets

TKR has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Oppenheimer lowered their target price on Timken from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Loop Capital lowered their target price on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Morgan Stanley lowered their target price on Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Timken has an average rating of "Hold" and an average target price of $79.00.

Timken Company 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.