The Timken Company (NYSE:TKR) CEO Sells $2,422,800.00 in Stock

The Timken Company (NYSE:TKR) CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $80.76, for a total value of $2,422,800.00. Following the completion of the transaction, the chief executive officer now owns 274,485 shares in the company, valued at approximately $22,167,408.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Timken Stock Up 1.4 %

Shares of Timken stock opened at $81.07 on Friday. The Timken Company has a twelve month low of $65.71 and a twelve month high of $94.71. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.74 and a beta of 1.46. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The business’s 50 day simple moving average is $82.56 and its 200-day simple moving average is $84.56.

Timken (NYSE:TKR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities research analysts forecast that The Timken Company will post 6.13 earnings per share for the current year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.68%. Timken’s payout ratio is currently 25.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TKR shares. Stifel Nicolaus upped their target price on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Raymond James started coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. KeyCorp raised their price objective on shares of Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Loop Capital upped their target price on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Timken currently has an average rating of “Hold” and a consensus price target of $87.91.

Hedge Funds Weigh In On Timken

Several hedge funds and other institutional investors have recently made changes to their positions in TKR. Fidelis Capital Partners LLC acquired a new position in Timken during the 1st quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in Timken in the fourth quarter worth about $30,000. Versant Capital Management Inc bought a new position in Timken in the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its stake in Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after buying an additional 343 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Timken during the 4th quarter worth about $35,000. 89.08% of the stock is currently 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.