Oppenheimer Asset Management Inc. Has $4.35 Million Position in The Timken Company (NYSE:TKR)

Oppenheimer Asset Management Inc. raised its stake in shares of The Timken Company (NYSE:TKR) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,614 shares of the industrial products company’s stock after buying an additional 1,356 shares during the period. Oppenheimer Asset Management Inc. owned about 0.07% of Timken worth $4,351,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Creative Planning raised its holdings in shares of Timken by 1.7% during the 2nd quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 150 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of 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 purchasing an additional 155 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in shares of 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 valued at $1,282,000 after purchasing an additional 155 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 166 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Timken by 64.1% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Performance

NYSE TKR opened at $75.59 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.11 and a beta of 1.43. The company’s fifty day moving average is $81.89 and its two-hundred day moving average is $83.40. The Timken Company has a 52-week low of $71.57 and a 52-week high of $94.71.

Timken (NYSE:TKR) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. Equities research analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.80%. Timken’s dividend payout ratio is 28.27%.

Insiders Place Their Bets

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares in the company, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and raised their price target for the company from $87.00 to $91.00 in a report on Wednesday. KeyCorp cut their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Citigroup assumed coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. DA Davidson dropped their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Oppenheimer dropped their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Timken currently has an average rating of “Hold” and a consensus target price of $90.00.

About Timken

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.