Timken Company (The) $TKR Holdings Decreased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its holdings in Timken Company (The) (NYSE:TKR) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,787 shares of the industrial products company’s stock after selling 2,317 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Timken were worth $3,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in shares of Timken by 108.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company’s stock valued at $132,372,000 after purchasing an additional 959,672 shares during the period. Channing Capital Management LLC grew its position in Timken by 631.7% during the first quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company’s stock valued at $77,883,000 after purchasing an additional 935,554 shares in the last quarter. Cooke & Bieler LP acquired a new position in Timken in the 1st quarter valued at approximately $18,041,000. American Century Companies Inc. increased its stake in Timken by 7.3% in the 1st quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company’s stock valued at $243,648,000 after buying an additional 231,435 shares during the period. Finally, Millennium Management LLC lifted its position in Timken by 48.5% in the 1st quarter. Millennium Management LLC now owns 681,379 shares of the industrial products company’s stock worth $48,971,000 after buying an additional 222,679 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on TKR. DA Davidson upped their price target on shares of Timken from $71.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Evercore ISI set a $84.00 target price on Timken and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Citigroup raised their price target on Timken from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. initiated coverage on Timken in a research note on Monday, September 15th. They issued a “neutral” rating and a $80.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Timken in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $80.73.

Timken Price Performance

NYSE TKR opened at $77.25 on Wednesday. Timken Company has a 1 year low of $56.20 and a 1 year high of $85.22. The company has a fifty day simple moving average of $76.41 and a 200 day simple moving average of $73.54. The company has a current ratio of 3.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The company has a market cap of $5.38 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.71 and a beta of 1.26.

Timken (NYSE:TKR) last released its earnings results on Wednesday, July 30th. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.08. Timken had a net margin of 6.86% and a return on equity of 11.78%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The business’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 19th. Timken’s payout ratio is currently 31.82%.

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.