The Timken Company (NYSE:TKR) EVP Christopher A. Coughlin Sells 29,006 Shares

The Timken Company (NYSE:TKR) EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Timken Stock Performance

Shares of TKR stock opened at $89.71 on Tuesday. The firm has a market capitalization of $6.32 billion, a PE ratio of 17.09, a P/E/G ratio of 1.21 and a beta of 1.51. The company has a 50 day moving average price of $86.12 and a 200-day moving average price of $80.06. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66.

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

Timken Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.52%. This is a boost from Timken’s previous quarterly dividend of $0.33. The ex-dividend date is Monday, May 13th. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Institutional Investors Weigh In On Timken

Several hedge funds and other institutional investors have recently made changes to their positions in TKR. Norges Bank purchased a new position in shares of Timken during the 4th quarter worth $56,995,000. Fiduciary Management Inc. WI lifted its position in Timken by 94.7% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after purchasing an additional 551,097 shares in the last quarter. Provident Investment Management Inc. bought a new stake in Timken during the third quarter valued at about $23,408,000. Stansberry Asset Management LLC purchased a new stake in Timken in the third quarter worth about $16,422,000. Finally, Atlantic Investment Management Inc. raised its stake in shares of Timken by 69.4% in the third quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock worth $38,222,000 after buying an additional 213,000 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

TKR has been the topic of several research reports. KeyCorp lifted their price target on Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group upped their target price on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Stifel Nicolaus lifted their price target on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley started coverage on shares of Timken in a report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price objective on the stock. Finally, Evercore ISI lowered shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price for the company. in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $87.09.

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.