Oppenheimer Asset Management Inc. Sells 1,202 Shares of Timken Company (The) (NYSE:TKR)

Oppenheimer Asset Management Inc. lessened its stake in Timken Company (The) (NYSE:TKR) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,104 shares of the industrial products company’s stock after selling 1,202 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Timken were worth $3,601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fairway Wealth LLC purchased a new position in shares of Timken during the fourth quarter worth approximately $29,000. Amundi grew its stake in Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares in the last quarter. Parvin Asset Management LLC bought a new position in Timken in the fourth quarter worth approximately $66,000. UMB Bank n.a. increased its holdings in Timken by 400.0% during the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 800 shares during the period. Finally, GAMMA Investing LLC raised its position in Timken by 282.3% during the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 847 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

Shares of Timken stock opened at $73.14 on Thursday. The company has a market capitalization of $5.12 billion, a PE ratio of 15.76, a P/E/G ratio of 1.75 and a beta of 1.28. The company has a 50-day simple moving average of $68.98 and a two-hundred day simple moving average of $72.46. Timken Company has a one year low of $56.20 and a one year high of $90.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.03). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 EPS. Research analysts expect that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Tuesday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.34. Timken’s dividend payout ratio is currently 30.17%.

Analyst Ratings Changes

TKR has been the subject of several research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Loop Capital decreased their price objective on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Morgan Stanley lowered their price objective on shares of Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Citigroup raised their target price on shares of Timken from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, DA Davidson boosted their price target on shares of Timken from $66.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $79.00.

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.