Oppenheimer Asset Management Inc. Takes $4.94 Million Position in Timken Company (The) $TKR

Key Points

• Oppenheimer Asset Management acquired 33,967 Timken shares worth approximately $4.94 million, while institutional investors and hedge funds collectively own 89.08% of the company.
• Analysts maintain a generally positive view, with six Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $150.
• Timken exceeded quarterly earnings expectations, reporting $1.83 EPS versus $1.62 expected and $1.26 billion in revenue. The company also announced a $0.36 quarterly dividend, equivalent to a 1.1% yield.

Oppenheimer Asset Management Inc. purchased a new position in shares of Timken Company (The) (NYSE:TKR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 33,967 shares of the industrial products company's stock, valued at approximately $4,936,000.

A number of other hedge funds have also modified their holdings of TKR. Gordian Capital Singapore Pte Ltd acquired a new position in Timken during the fourth quarter worth about $25,000. Clearstead Advisors LLC raised its holdings in Timken by 130.3% in the 4th quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in Timken by 420.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 260 shares of the industrial products company's stock worth $38,000 after purchasing an additional 210 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Timken in the 2nd quarter worth approximately $42,000. Finally, Danske Bank A S acquired a new position in shares of Timken during the 3rd quarter worth approximately $45,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TKR. Weiss Ratings lowered Timken from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Evercore reiterated an "outperform" rating and set a $158.00 price objective on shares of Timken in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on Timken from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Oppenheimer raised their target price on Timken from $147.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group lifted their price target on Timken from $128.00 to $142.00 and gave the stock a "neutral" rating in a report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Timken presently has an average rating of "Moderate Buy" and a consensus price target of $150.00.

Timken Stock Performance

NYSE TKR opened at $133.37 on Friday. The stock has a fifty day simple moving average of $137.56 and a 200-day simple moving average of $118.22. The company has a current ratio of 3.10, a quick ratio of 1.74 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.24 billion, a PE ratio of 36.14, a P/E/G ratio of 1.57 and a beta of 1.21. Timken Company has a twelve month low of $70.57 and a twelve month high of $146.37.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.21. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Timken had a return on equity of 12.63% and a net margin of 5.43%.The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 earnings per share. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. Equities analysts anticipate that Timken Company will post 6.23 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.44 annualized dividend and a yield of 1.1%. Timken's dividend payout ratio (DPR) is 39.02%.

Insider Buying and Selling

In related news, Director Richard G. Kyle sold 13,637 shares of Timken stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $126.63, for a total value of $1,726,853.31. Following the completion of the transaction, the director owned 183,724 shares in the company, valued at $23,264,970.12. The trade was a 6.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ajita G. Rajendra sold 8,450 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $131.34, for a total transaction of $1,109,823.00. Following the transaction, the director owned 20,225 shares of the company's stock, valued at $2,656,351.50. This trade represents a 29.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,535 shares of company stock valued at $3,912,529 in the last quarter. 8.10% of the stock is owned by insiders.

Timken Company Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken's products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken's portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.

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