The Timken Company (NYSE:TKR) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its position in shares of The Timken Company (NYSE:TKR) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,306 shares of the industrial products company’s stock after selling 308 shares during the period. Oppenheimer Asset Management Inc. owned 0.07% of Timken worth $3,662,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Coastline Trust Co purchased a new stake in shares of Timken in the 3rd quarter valued at approximately $29,000. Brooklyn Investment Group purchased a new position in Timken in the third quarter worth approximately $74,000. Venturi Wealth Management LLC increased its stake in Timken by 230.7% during the third quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 759 shares during the last quarter. Blue Trust Inc. increased its stake in Timken by 88.3% during the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 880 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Timken by 8.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 158 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TKR. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. DA Davidson lowered their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Oppenheimer lowered their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Four equities 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 has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is owned by insiders.

Timken Stock Performance

Shares of TKR stock opened at $81.06 on Friday. The stock’s 50-day moving average is $77.33 and its two-hundred day moving average is $79.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.51 and a beta of 1.39.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (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%. Analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th will be issued 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 payout ratio is 27.25%.

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.