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 that occurred on Monday, August 5th. The shares were sold at an average price of $80.76, for a total value of $2,422,800.00. Following the completion of the sale, 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 SEC, which is accessible through this link.

Timken Trading Up 1.4 %

Shares of NYSE:TKR opened at $81.07 on Friday. The Timken Company has a 12-month low of $65.71 and a 12-month high of $94.71. The business has a 50 day moving average of $82.56 and a 200-day moving average of $84.56. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.69 billion, a PE ratio of 15.44, a P/E/G ratio of 1.74 and a beta of 1.46.

Timken (NYSE:TKR) last released 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. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 EPS. As a group, equities research analysts forecast that The Timken Company will post 6.13 earnings per share for the current year.

Timken Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Trading of Timken

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fidelis Capital Partners LLC bought a new position in shares of Timken during the first quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new stake in Timken during the fourth quarter worth approximately $30,000. Versant Capital Management Inc bought a new position in Timken during the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC raised its holdings in Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 343 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Timken during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.