Avidian Wealth Enterprises LLC Lowers Stock Holdings in The Timken Company (NYSE:TKR)

Avidian Wealth Enterprises LLC reduced its position in The Timken Company (NYSE:TKR) by 7.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,732 shares of the industrial products company’s stock after selling 228 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Timken were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Creative Planning grew its stake in shares of Timken by 1.7% during the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock valued at $731,000 after buying an additional 150 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Timken by 3.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 155 shares during the period. Beese Fulmer Investment Management Inc. grew its position in Timken by 1.0% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after acquiring an additional 155 shares during the last quarter. Blue Trust Inc. increased its stake in Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 166 shares during the period. Finally, UMB Bank n.a. lifted its position in Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 168 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

Timken Stock Down 2.8 %

Shares of NYSE:TKR opened at $76.99 on Friday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.90 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The stock has a 50 day moving average price of $82.56 and a 200-day moving average price of $83.82. The Timken Company has a 52-week low of $70.15 and a 52-week high of $94.71.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $1.55 EPS. Timken’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that The Timken Company will post 6.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TKR. Citigroup started coverage on shares of Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. DA Davidson lowered their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer cut their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday. KeyCorp reduced their price target on Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Evercore ISI dropped their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $89.60.

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.