Oppenheimer & Co. Inc. Sells 1,544 Shares of The Timken Company (NYSE:TKR)

Oppenheimer & Co. Inc. reduced its holdings in The Timken Company (NYSE:TKR) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,521 shares of the industrial products company’s stock after selling 1,544 shares during the quarter. Oppenheimer & Co. Inc. owned 0.10% of Timken worth $4,819,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning boosted its holdings in shares of Timken by 11.1% in the 3rd quarter. Creative Planning now owns 10,138 shares of the industrial products company’s stock worth $855,000 after purchasing an additional 1,015 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Timken by 8,327.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,854 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 1,832 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Timken by 1.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 35,163 shares of the industrial products company’s stock worth $2,963,000 after purchasing an additional 500 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Timken by 6.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 27,707 shares of the industrial products company’s stock worth $2,221,000 after purchasing an additional 1,682 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Timken by 9.6% in the 3rd quarter. US Bancorp DE now owns 3,550 shares of the industrial products company’s stock worth $299,000 after purchasing an additional 310 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TKR shares. Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. DA Davidson dropped their target price on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, Evercore ISI raised their price target on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Timken has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Insider Activity

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’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 value of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Timken Trading Up 2.2 %

TKR opened at $81.06 on Friday. The stock has a market cap of $5.67 billion, a PE ratio of 16.25, a PEG ratio of 1.51 and a beta of 1.39. 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 business has a 50 day moving average of $77.33 and a 200-day moving average of $79.31. The Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71.

Timken (NYSE:TKR) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating 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%. Equities research analysts predict 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. Stockholders of record on Tuesday, February 25th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, February 25th. Timken’s payout ratio is presently 27.25%.

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.