Timken Co (NYSE:TKR) CFO Philip D. Fracassa sold 4,846 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.38, for a total value of $253,833.48. Following the transaction, the chief financial officer now owns 60,595 shares in the company, valued at approximately $3,173,966.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
TKR traded up $0.71 during midday trading on Thursday, reaching $53.44. 7,979 shares of the company were exchanged, compared to its average volume of 615,697. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 2.57. Timken Co has a one year low of $33.98 and a one year high of $53.75. The stock has a market capitalization of $4.00 billion, a P/E ratio of 12.78, a PEG ratio of 1.32 and a beta of 1.81. The stock’s 50-day simple moving average is $45.11 and its 200 day simple moving average is $45.78.
Timken (NYSE:TKR) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.04). Timken had a return on equity of 21.12% and a net margin of 8.11%. The company had revenue of $914.00 million for the quarter, compared to the consensus estimate of $945.87 million. During the same quarter last year, the business posted $1.06 EPS. Timken’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts anticipate that Timken Co will post 4.72 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Preferred LLC bought a new position in Timken during the second quarter worth about $37,000. Flagship Harbor Advisors LLC lifted its holdings in shares of Timken by 72.6% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 918 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 386 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Timken during the 2nd quarter valued at about $56,000. Quest Capital Management Inc. ADV bought a new position in shares of Timken during the 3rd quarter valued at about $78,000. Finally, Cerebellum GP LLC bought a new position in shares of Timken during the 3rd quarter valued at about $107,000. Hedge funds and other institutional investors own 78.44% of the company’s stock.
A number of equities analysts have issued reports on TKR shares. Bank of America cut Timken from a “neutral” rating to an “underperform” rating and set a $41.00 target price on the stock. in a report on Thursday, September 26th. Goldman Sachs Group upgraded Timken from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $56.00 in a report on Tuesday, July 16th. Morgan Stanley set a $52.00 target price on Timken and gave the stock a “hold” rating in a report on Friday, November 1st. ValuEngine upgraded Timken from a “strong sell” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Zacks Investment Research cut Timken from a “hold” rating to a “strong sell” rating and set a $56.00 target price on the stock. in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Timken has a consensus rating of “Hold” and a consensus price target of $51.25.
Timken Company Profile
The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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