The Timken Company (NYSE:TKR) CFO Philip D. Fracassa Sells 5,000 Shares

The Timken Company (NYSE:TKR) CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Timken Stock Performance

NYSE:TKR opened at $82.19 on Wednesday. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The stock has a 50-day moving average price of $75.64 and a 200 day moving average price of $79.33. The stock has a market capitalization of $5.76 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.21 and a beta of 1.39.

Timken (NYSE:TKR) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Equities research analysts forecast that The Timken Company will post 5.6 EPS for the current fiscal year.

Institutional Trading of Timken

Several institutional investors have recently made changes to their positions in TKR. Victory Capital Management Inc. grew its position in shares of Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after purchasing an additional 711,979 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after purchasing an additional 434,800 shares in the last quarter. American Century Companies Inc. boosted its stake in Timken by 11.3% during the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after buying an additional 320,354 shares during the last quarter. Royce & Associates LP boosted its stake in Timken by 108.9% during the fourth quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company’s stock valued at $28,398,000 after buying an additional 207,439 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Timken during the fourth quarter valued at approximately $14,460,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of research reports. Citigroup reduced their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and upped their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Oppenheimer reduced their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, DA Davidson reduced their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Timken has a consensus rating of “Moderate Buy” and a consensus price target of $91.60.

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.