Envestnet Asset Management Inc. Has $12.71 Million Holdings in The Timken Company (NYSE:TKR)

Envestnet Asset Management Inc. trimmed its stake in The Timken Company (NYSE:TKR) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 178,103 shares of the industrial products company’s stock after selling 671 shares during the period. Envestnet Asset Management Inc.’s holdings in Timken were worth $12,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Landscape Capital Management L.L.C. bought a new stake in shares of Timken during the fourth quarter valued at approximately $566,000. Foundry Partners LLC lifted its holdings in shares of Timken by 6.5% during the 4th quarter. Foundry Partners LLC now owns 52,711 shares of the industrial products company’s stock worth $3,762,000 after acquiring an additional 3,197 shares during the period. World Investment Advisors boosted its position in shares of Timken by 9.4% during the 4th quarter. World Investment Advisors now owns 5,313 shares of the industrial products company’s stock valued at $379,000 after acquiring an additional 458 shares in the last quarter. National Bank of Canada FI acquired a new position in Timken in the fourth quarter worth about $335,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Timken by 15.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 10,292 shares of the industrial products company’s stock valued at $735,000 after purchasing an additional 1,354 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Stock Up 0.7 %

NYSE:TKR opened at $61.39 on Friday. The stock’s fifty day simple moving average is $72.97 and its 200-day simple moving average is $76.19. The firm has a market capitalization of $4.30 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The Timken Company has a 12-month low of $56.20 and a 12-month high of $94.71.

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, beating 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%. Equities research analysts expect that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio is currently 27.25%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TKR. Evercore ISI upped their price target on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Jefferies Financial Group reiterated a “hold” rating and set a $70.00 target price (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Loop Capital decreased their price objective on shares of Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday. Citigroup cut their target price on shares of Timken from $95.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.91.

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is owned by insiders.

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.