The Timken Company (NYSE:TKR) CEO Sells $1,781,800.00 in Stock

The Timken Company (NYSE:TKR) CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the transaction, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Timken Trading Down 0.2 %

Shares of Timken stock opened at $89.82 on Thursday. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08. The firm’s 50-day moving average price is $86.53 and its 200 day moving average price is $80.41. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6.32 billion, a PE ratio of 17.11, a P/E/G ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $2.09 earnings per share. Timken’s quarterly revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts predict that The Timken Company will post 6.18 EPS for the current fiscal year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be issued a $0.34 dividend. This is a boost from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, May 13th. Timken’s dividend payout ratio is presently 25.14%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TKR. KeyCorp boosted their price objective on shares of Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. DA Davidson started coverage on Timken in a report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 target price for the company. Stifel Nicolaus increased their price target on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. Finally, Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.09.

Institutional Trading of Timken

A number of hedge funds and other institutional investors have recently modified their holdings of TKR. Fidelis Capital Partners LLC purchased a new stake in shares of Timken in the first quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Timken during the 4th quarter worth approximately $30,000. GAMMA Investing LLC purchased a new stake in shares of Timken during the 4th quarter valued at approximately $35,000. Manchester Capital Management LLC lifted its holdings in Timken by 51.3% in the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 205 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new position in Timken in the fourth quarter worth approximately $58,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Company 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.