Oppenheimer & Co. Inc. Increases Stock Position in The Timken Company (NYSE:TKR)

Oppenheimer & Co. Inc. grew its stake in The Timken Company (NYSE:TKRFree Report) by 14.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,641 shares of the industrial products company’s stock after acquiring an additional 470 shares during the period. Oppenheimer & Co. Inc.’s holdings in Timken were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Great Lakes Advisors LLC grew its stake in Timken by 1.2% in the 3rd quarter. Great Lakes Advisors LLC now owns 33,094 shares of the industrial products company’s stock worth $2,432,000 after acquiring an additional 399 shares in the last quarter. Quantbot Technologies LP bought a new position in Timken in the 3rd quarter worth about $537,000. Jump Financial LLC grew its stake in Timken by 43.0% in the 3rd quarter. Jump Financial LLC now owns 5,760 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 1,731 shares in the last quarter. Arizona State Retirement System grew its stake in Timken by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock worth $1,363,000 after acquiring an additional 194 shares in the last quarter. Finally, Versor Investments LP bought a new position in Timken in the 3rd quarter worth about $502,000. 84.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TKR. DA Davidson began coverage on shares of Timken in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price target for the company. Stifel Nicolaus lowered their price target on shares of Timken from $93.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, December 19th. StockNews.com raised shares of Timken from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley began coverage on shares of Timken in a research report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price target for the company. Finally, KeyCorp decreased their target price on shares of Timken from $102.00 to $91.00 and set an “overweight” rating for the company in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.50.

Get Our Latest Stock Analysis on Timken

Timken Trading Up 1.2 %

Shares of Timken stock opened at $83.57 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. The Timken Company has a 12-month low of $65.71 and a 12-month high of $95.08. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.14 and a beta of 1.55. The firm’s 50 day simple moving average is $79.43 and its two-hundred day simple moving average is $76.15.

Timken (NYSE:TKRGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business posted $1.22 EPS. Timken’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that The Timken Company will post 6.02 EPS for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.58%. Timken’s payout ratio is currently 24.18%.

Timken Profile

(Free Report)

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; thrust and specialty ball bearings; and housed or mounted bearings.

Featured Articles

Want to see what other hedge funds are holding TKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Timken Company (NYSE:TKRFree Report).

Institutional Ownership by Quarter for Timken (NYSE:TKR)

Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.