Oppenheimer & Co. Inc. Lowers Holdings in The Timken Company (NYSE:TKR)

Oppenheimer & Co. Inc. decreased its stake in shares of The Timken Company (NYSE:TKR) by 2.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 67,521 shares of the industrial products company’s stock after selling 1,544 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Timken were worth $4,819,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Coastline Trust Co purchased a new position in Timken during the third quarter valued at $29,000. Brooklyn Investment Group purchased a new position in shares of Timken in the third quarter worth $74,000. Venturi Wealth Management LLC raised its stake in shares of Timken by 230.7% in the third quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 759 shares during the last quarter. Covestor Ltd raised its stake in shares of Timken by 20.0% in the third quarter. Covestor Ltd now owns 1,786 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 298 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Timken by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 1,823 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling

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

Timken Price Performance

NYSE:TKR opened at $81.06 on Friday. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $5.67 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.51 and a beta of 1.39. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The business’s 50-day moving average is $77.33 and its 200 day moving average is $79.31.

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

Timken Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 25th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.68%. Timken’s dividend payout ratio is currently 27.25%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TKR shares. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Evercore ISI boosted their price target on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Citigroup decreased their price target on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.70.

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.