Envestnet Asset Management Inc. Sells 4,176 Shares of Timken Company (The) $TKR

Envestnet Asset Management Inc. cut its holdings in Timken Company (The) (NYSE:TKR) by 2.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 165,274 shares of the industrial products company’s stock after selling 4,176 shares during the period. Envestnet Asset Management Inc.’s holdings in Timken were worth $11,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TKR. CWM LLC lifted its position in shares of Timken by 31.4% during the second quarter. CWM LLC now owns 527 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 126 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in Timken by 2.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 6,083 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 140 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Timken by 0.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 25,605 shares of the industrial products company’s stock worth $1,840,000 after purchasing an additional 155 shares during the period. Ethic Inc. grew its holdings in Timken by 2.5% during the 1st quarter. Ethic Inc. now owns 7,056 shares of the industrial products company’s stock valued at $485,000 after buying an additional 174 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Timken by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the industrial products company’s stock valued at $1,286,000 after buying an additional 200 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Stock Up 1.4%

Shares of NYSE:TKR opened at $79.06 on Friday. The firm has a market capitalization of $5.51 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.11. Timken Company has a 52-week low of $56.20 and a 52-week high of $84.43. The firm has a fifty day moving average of $76.47 and a 200 day moving average of $74.48.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.12. Timken had a return on equity of 11.88% and a net margin of 6.54%.The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. Timken has set its FY 2025 guidance at 5.200-5.300 EPS. As a group, research analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $88.00 price objective on shares of Timken in a research report on Thursday, October 30th. Citigroup increased their target price on shares of Timken from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Evercore ISI set a $84.00 price target on shares of Timken and gave the company an “outperform” rating in a research report on Tuesday, August 19th. DA Davidson upped their price target on shares of Timken from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Timken from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $82.20.

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.