Richard G. Kyle Sells 30,000 Shares of The Timken Company (NYSE:TKR) Stock

The Timken Company (NYSE:TKR) Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Timken Stock Performance

Shares of TKR stock opened at $74.50 on Thursday. The Timken Company has a 1 year low of $71.57 and a 1 year high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.11 and a beta of 1.43. The stock’s 50-day moving average is $82.03 and its two-hundred day moving average is $83.53.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.55 EPS. Analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, November 19th. Timken’s payout ratio is currently 28.27%.

Institutional Investors Weigh In On Timken

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after purchasing an additional 97,550 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of Timken by 2.1% during the second quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock worth $105,957,000 after purchasing an additional 26,671 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on TKR. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $87.00 to $91.00 in a report on Wednesday. KeyCorp reduced their target price 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. Oppenheimer lowered their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. DA Davidson reduced their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $90.00.

About Timken

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.