The Timken Company (NYSE:TKR) CEO Sells $1,781,800.00 in Stock

The Timken Company (NYSE:TKR) CEO Richard G. Kyle sold 20,000 shares of Timken stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the sale, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Timken Trading Up 0.4 %

NYSE:TKR opened at $90.05 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $86.41 and a 200-day simple moving average of $80.35. The Timken Company has a 12 month low of $65.71 and a 12 month high of $95.08. The company has a market capitalization of $6.34 billion, a P/E ratio of 17.15, a PEG ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Timken Company will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 1.51%. Timken’s dividend payout ratio (DPR) is currently 25.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TKR. Loop Capital lifted their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. KeyCorp boosted their target price on shares of Timken from $91.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Oppenheimer restated an “outperform” rating and issued a $100.00 price target (up from $97.00) on shares of Timken in a report on Thursday, March 21st. The Goldman Sachs Group boosted their price objective on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus lifted their price target on shares of Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.09.

Institutional Trading of Timken

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its holdings in shares of Timken by 19.6% during the third quarter. Commonwealth Equity Services LLC now owns 7,599 shares of the industrial products company’s stock worth $559,000 after purchasing an additional 1,245 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Timken by 8.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,954 shares of the industrial products company’s stock valued at $1,981,000 after buying an additional 2,026 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Timken by 8.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,387 shares of the industrial products company’s stock valued at $322,000 after buying an additional 348 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Timken by 26.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,643 shares of the industrial products company’s stock worth $4,089,000 after buying an additional 11,748 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Timken during the third quarter worth about $235,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.