Oppenheimer & Co. Inc. Sells 209 Shares of The Timken Company (NYSE:TKR)

Oppenheimer & Co. Inc. reduced its position in The Timken Company (NYSE:TKR) by 0.3% during the third quarter, Holdings Channel.com reports. The firm owned 69,065 shares of the industrial products company’s stock after selling 209 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Timken were worth $5,821,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after buying an additional 343 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Timken in the 2nd quarter worth about $30,000. Livelsberger Financial Advisory bought a new position in Timken in the 3rd quarter valued at about $32,000. UMB Bank n.a. boosted its stake in 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 during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Timken during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Timken Trading Up 0.7 %

Shares of TKR stock opened at $74.99 on Friday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $5.26 billion, a P/E ratio of 15.59, a PEG ratio of 1.11 and a beta of 1.43. The company has a 50 day moving average of $81.95 and a 200-day moving average of $83.47. The Timken Company has a 12-month low of $71.57 and a 12-month high of $94.71.

Timken (NYSE:TKR) last released its earnings results 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 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business earned $1.55 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Insiders Place Their Bets

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.70% of the company’s stock.

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.