Insider Selling: The Timken Company (NYSE:TKR) CEO Sells $2,413,800.00 in Stock

The Timken Company (NYSE:TKR) CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the transaction, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at $19,671,263.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Timken Stock Up 0.2 %

Shares of NYSE:TKR opened at $81.72 on Thursday. The Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71. 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 business has a fifty day moving average of $82.23 and a two-hundred day moving average of $84.61. The stock has a market cap of $5.75 billion, a P/E ratio of 15.57, a PEG ratio of 1.73 and a beta of 1.46.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. Timken’s quarterly revenue was down 7.1% compared to the same quarter last year. On average, research analysts expect that The Timken Company will post 6.13 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be given a $0.34 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.36 annualized dividend and a yield of 1.66%. Timken’s payout ratio is 25.90%.

Institutional Investors Weigh In On Timken

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC purchased a new stake in Timken in the 1st quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new position in shares of Timken in the 4th quarter worth approximately $30,000. Versant Capital Management Inc purchased a new position in shares of Timken during the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased 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 purchasing an additional 343 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Timken in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TKR. Loop Capital upped their price objective on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Stifel Nicolaus lifted their price objective on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Raymond James started coverage on Timken in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, KeyCorp lifted their price target on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note 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 given a buy rating to the stock. According to data from MarketBeat.com, Timken has an average rating of “Hold” and an average target price of $87.91.

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.