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

Oppenheimer Asset Management Inc. acquired a new stake in Timken Company (The) (NYSE:TKR) during the second quarter, HoldingsChannel reports. The firm acquired 33,967 shares of the industrial products company’s stock, valued at approximately $4,936,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TKR. Elevation Wealth Partners LLC boosted its holdings in Timken by 420.0% in the second quarter. Elevation Wealth Partners LLC now owns 260 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 210 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Timken in the fourth quarter valued at approximately $25,000. Clearstead Advisors LLC raised its holdings in Timken by 130.3% during the fourth quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Timken during the second quarter worth approximately $42,000. Finally, Danske Bank A S purchased a new stake in shares of Timken during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of several research analyst reports. DA Davidson set a $130.00 target price on shares of Timken in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Timken from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Evercore reissued an “outperform” rating and issued a $158.00 price target on shares of Timken in a research report on Monday, May 11th. Oppenheimer upped their price objective on shares of Timken from $147.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Finally, KeyCorp raised their price objective on Timken from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.00.

Insiders Place Their Bets

In related news, Director Richard G. Kyle sold 13,637 shares of Timken stock in a transaction 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 transaction, the director directly owned 183,724 shares in the company, valued at $23,264,970.12. This trade represents a 6.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ajita G. Rajendra sold 8,450 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $131.34, for a total transaction of $1,109,823.00. Following the completion of the transaction, the director directly owned 20,225 shares in the company, valued at $2,656,351.50. This represents a 29.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 30,535 shares of company stock worth $3,912,529. 8.10% of the stock is currently owned by insiders.

Timken Stock Up 1.6%

TKR opened at $133.37 on Friday. The business has a 50 day moving average price of $137.56 and a two-hundred day moving average price of $118.22. The company has a quick ratio of 1.74, a current ratio of 3.10 and a debt-to-equity ratio of 0.61. The company 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 52 week low of $70.57 and a 52 week high of $146.37.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.21. Timken had a return on equity of 12.63% and a net margin of 5.43%.The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, research analysts anticipate that Timken Company will post 6.23 EPS for the current year.

Timken Announces Dividend

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

Timken 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.