The Timken Company (NYSE:TKR) Director Sells $2,297,700.00 in Stock

The Timken Company (NYSE:TKR) Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Timken Price Performance

NYSE TKR traded down $1.89 on Tuesday, reaching $74.63. 489,561 shares of the company’s stock traded hands, compared to its average volume of 485,405. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.64. The Timken Company has a 12 month low of $70.15 and a 12 month high of $94.71. The stock has a 50-day simple moving average of $82.25 and a 200 day simple moving average of $83.67. The stock has a market cap of $5.23 billion, a PE ratio of 15.91, a P/E/G ratio of 1.14 and a beta of 1.43.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. Timken’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken’s dividend payout ratio is presently 28.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TKR. Oppenheimer reduced their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Evercore ISI reduced their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Citigroup began coverage on shares of Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. KeyCorp decreased their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Finally, DA Davidson dropped their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.60.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TKR. Coastline Trust Co bought a new position in shares of Timken in the third quarter worth approximately $29,000. Versant Capital Management Inc purchased a new stake in Timken during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Timken in the third quarter worth about $32,000. Finally, UMB Bank n.a. lifted its holdings in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 168 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.