Richard G. Kyle Sells 30,000 Shares of The Timken Company (NYSE:TKR) Stock

The Timken Company (NYSE:TKR - Get Free Report) CEO Richard G. Kyle sold 30,000 shares of the business's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total value of $2,413,800.00. Following the transaction, the chief executive officer now owns 244,485 shares of the company's stock, valued at approximately $19,671,263.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Timken Stock Down 0.7 %

Shares of TKR traded down $0.59 during mid-day trading on Monday, hitting $80.30. 337,690 shares of the company traded hands, compared to its average volume of 482,197. The business has a 50 day moving average of $82.44 and a 200 day moving average of $84.64. The company has a market capitalization of $5.65 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.74 and a beta of 1.46. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The Timken Company has a 1-year low of $65.71 and a 1-year high of $94.71.

Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. The business's quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.01 EPS. Equities research analysts anticipate that The Timken Company will post 6.13 EPS for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.69%. Timken's payout ratio is currently 25.90%.

Hedge Funds Weigh In On Timken

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its position in Timken by 7,913.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,763 shares of the industrial products company's stock worth $141,000 after purchasing an additional 1,741 shares in the last quarter. Cerity Partners LLC acquired a new stake in Timken during the fourth quarter valued at $239,000. Ingalls & Snyder LLC purchased a new position in Timken in the fourth quarter valued at $210,000. WCM Investment Management LLC raised its position in shares of Timken by 8.7% in the fourth quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company's stock worth $16,443,000 after acquiring an additional 16,322 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Timken during the 4th quarter worth about $1,459,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TKR shares. Raymond James began coverage on shares of Timken in a report on Friday, June 28th. They issued a "market perform" rating on the stock. KeyCorp upped their target price on Timken from $95.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, May 23rd. Loop Capital increased their target price on shares of Timken from $78.00 to $87.00 and gave the stock a "hold" rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus boosted their price target on shares of Timken from $92.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Timken currently has a consensus rating of "Hold" and a consensus target price of $87.91.

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.

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