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

Oppenheimer & Co. Inc. trimmed its stake in shares of The Timken Company (NYSE:TKR) by 0.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 69,065 shares of the industrial products company’s stock after selling 209 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.10% of Timken worth $5,821,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares during the period. Versant Capital Management Inc acquired a new position in shares of Timken in the 2nd quarter valued at approximately $30,000. Livelsberger Financial Advisory bought a new stake in shares of Timken during the 3rd quarter worth approximately $32,000. UMB Bank n.a. boosted its position in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Timken in the second quarter valued at approximately $44,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on TKR. DA Davidson cut their target price on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. Oppenheimer lowered their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and raised their price target for the company from $87.00 to $91.00 in a research note on Wednesday. Finally, KeyCorp lowered their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Timken presently has a consensus rating of “Hold” and an average target price of $90.00.

Timken Price Performance

TKR stock opened at $74.99 on Friday. The company has a market capitalization 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 fifty day moving average price of $81.95 and a 200-day moving average price of $83.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The Timken Company has a 52-week low of $71.57 and a 52-week high of $94.71.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 earnings per share. As a group, equities analysts expect that The Timken Company will post 5.61 EPS for the current year.

Timken Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.81%. Timken’s payout ratio is 28.27%.

Insider Transactions at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.70% of the company’s stock.

About Timken

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.