Insider Selling: The Timken Company (NYSE:TKR) Director Sells 30,000 Shares of Stock

The Timken Company (NYSE:TKR) Director Richard G. Kyle sold 30,000 shares of the stock in a transaction dated 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 transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Timken Price Performance

TKR stock opened at $74.99 on Friday. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $81.95 and its two-hundred day moving average price is $83.47. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.11 and a beta of 1.43. The Timken Company has a 12-month low of $71.57 and a 12-month high of $94.71.

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). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on TKR. KeyCorp reduced their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $87.00 to $91.00 in a research note on Wednesday. Citigroup began coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, DA Davidson decreased their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Timken in the 2nd quarter worth about $4,363,000. Comerica Bank lifted its holdings in Timken by 13.8% in the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after buying an additional 7,160 shares during the period. Vanguard Group Inc. boosted its position in Timken by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after acquiring an additional 347,794 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Timken by 26.4% during the 1st quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock worth $34,462,000 after acquiring an additional 82,382 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Timken by 29.4% in the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock worth $12,127,000 after acquiring an additional 31,552 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.