Richard G. Kyle Sells 20,000 Shares of The Timken Company (NYSE:TKR) Stock

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

Timken Stock Performance

Shares of Timken stock opened at $90.05 on Wednesday. The business has a fifty day simple moving average of $86.41 and a two-hundred day simple moving average of $80.35. The firm has a market capitalization of $6.34 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.21 and a beta of 1.51. 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 Timken Company has a 12 month low of $65.71 and a 12 month high of $95.08.

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

Timken Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be paid a $0.34 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.51%. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio is presently 25.14%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased 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 valued at $559,000 after acquiring an additional 1,245 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in 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 purchasing an additional 2,026 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Timken by 8.6% in the third quarter. Verdence Capital Advisors LLC now owns 4,387 shares of the industrial products company’s stock worth $322,000 after buying an additional 348 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of Timken during the third quarter valued at approximately $235,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. DA Davidson started coverage on Timken in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 target price on the stock. Evercore ISI lowered Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target for the company. in a research report on Tuesday, February 20th. Oppenheimer reissued an “outperform” rating and set a $100.00 target price (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group upped their target price on Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has a consensus rating of “Hold” and a consensus price target 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.