The Timken Company (NYSE:TKR) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its stake in shares of The Timken Company (NYSE:TKR) by 5.0% in the 4th quarter, HoldingsChannel reports. The firm owned 5,259 shares of the industrial products company’s stock after buying an additional 251 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Timken were worth $375,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TKR. Vestcor Inc acquired a new position in shares of Timken in the third quarter worth $560,000. TT International Asset Management LTD raised its stake in Timken by 1,075.2% in the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after purchasing an additional 35,932 shares during the last quarter. Barclays PLC lifted its holdings in Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after purchasing an additional 59,716 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after purchasing an additional 13,697 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Timken during the third quarter worth about $734,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TKR shares. Evercore ISI upped their price objective on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their price objective on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Citigroup reduced their target price on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Timken has an average rating of “Moderate Buy” and an average price target of $92.70.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.70% of the stock is owned by corporate insiders.

Timken Trading Down 1.0 %

Shares of TKR stock opened at $75.67 on Thursday. The Timken Company has a fifty-two week low of $69.35 and a fifty-two week high of $94.71. The firm’s 50 day moving average price is $78.23 and its two-hundred day moving average price is $78.38. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. On average, analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio is presently 27.25%.

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.