Insider Selling: The Timken Company (NYSE:TKR) Director Sells $2,297,700.00 in 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 shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Timken Stock Performance

NYSE:TKR opened at $74.99 on Friday. The Timken Company has a 52-week low of $71.57 and a 52-week high of $94.71. The business’s fifty day moving average is $81.95 and its 200 day moving average is $83.47. 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 $5.26 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.11 and a beta of 1.43.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 earnings per share. Research analysts predict that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.81%. Timken’s dividend payout ratio (DPR) is currently 28.27%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Timken

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its stake in Timken by 3.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 155 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in Timken by 11.8% in the first quarter. Concurrent Investment Advisors LLC now owns 8,623 shares of the industrial products company’s stock valued at $754,000 after purchasing an additional 911 shares in the last quarter. Sei Investments Co. raised its stake in Timken by 26.4% in the first quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock valued at $34,462,000 after purchasing an additional 82,382 shares in the last quarter. QRG Capital Management Inc. lifted its position in Timken by 2.0% during the first quarter. QRG Capital Management Inc. now owns 49,174 shares of the industrial products company’s stock valued at $4,299,000 after purchasing an additional 979 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new position in Timken in the 1st quarter worth approximately $415,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.