Philip D. Fracassa Sells 5,000 Shares of The Timken Company (NYSE:TKR) Stock

The Timken Company (NYSE:TKR - Get Free Report) CFO Philip D. Fracassa sold 5,000 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Timken Stock Performance

Shares of TKR stock traded down $0.04 during trading hours on Friday, hitting $83.09. The stock had a trading volume of 670,970 shares, compared to its average volume of 655,201. The firm has a market capitalization of $5.83 billion, a PE ratio of 16.65, a PEG ratio of 1.21 and a beta of 1.39. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The stock's 50 day moving average is $76.01 and its 200 day moving average is $79.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.62.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, research analysts forecast that The Timken Company will post 5.6 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.64%. Timken's dividend payout ratio is presently 27.25%.

Institutional Investors Weigh In On Timken

Several hedge funds have recently modified their holdings of TKR. Victory Capital Management Inc. lifted its holdings in shares of Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company's stock worth $62,959,000 after purchasing an additional 711,979 shares during the period. Norges Bank acquired a new stake in Timken in the fourth quarter valued at $42,748,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company's stock valued at $143,376,000 after acquiring an additional 434,800 shares during the period. American Century Companies Inc. lifted its holdings in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock valued at $225,436,000 after acquiring an additional 320,354 shares during the period. Finally, Becker Capital Management Inc. acquired a new stake in Timken in the fourth quarter valued at $15,550,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on TKR shares. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and increased their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. KeyCorp reiterated a "sector weight" rating on shares of Timken in a research note on Friday, November 22nd. Morgan Stanley increased their price target on shares of Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Jefferies Financial Group upgraded shares of Timken from a "hold" rating to a "buy" rating and increased their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.60.

About Timken

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.