The Timken Company (NYSE:TKR) CEO Richard G. Kyle sold 23,505 shares of the business’s stock in a transaction dated Monday, February 22nd. The shares were sold at an average price of $75.08, for a total value of $1,764,755.40. Following the completion of the sale, the chief executive officer now directly owns 316,388 shares of the company’s stock, valued at $23,754,411.04. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NYSE TKR traded up $0.55 during midday trading on Tuesday, reaching $76.07. The company’s stock had a trading volume of 693,930 shares, compared to its average volume of 702,084. The Timken Company has a 12-month low of $22.25 and a 12-month high of $86.44. The firm has a 50 day moving average price of $78.99 and a 200-day moving average price of $67.34. The stock has a market capitalization of $5.76 billion, a P/E ratio of 16.71, a PEG ratio of 4.03 and a beta of 1.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.65 and a quick ratio of 1.59.
The Timken (NYSE:TKR) last announced its earnings results on Thursday, February 4th. The industrial products company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.09). The Timken had a return on equity of 15.77% and a net margin of 9.80%. The business had revenue of $891.70 million during the quarter, compared to analysts’ expectations of $874.21 million. During the same quarter in the previous year, the firm earned $0.84 EPS. The Timken’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts predict that The Timken Company will post 4.16 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in The Timken by 8,119.5% in the third quarter. Thrivent Financial for Lutherans now owns 1,536,230 shares of the industrial products company’s stock valued at $83,294,000 after purchasing an additional 1,517,540 shares during the last quarter. AGF Investments Inc. lifted its stake in The Timken by 262,539.9% in the fourth quarter. AGF Investments Inc. now owns 908,734 shares of the industrial products company’s stock valued at $70,300,000 after purchasing an additional 908,388 shares during the last quarter. Principal Financial Group Inc. lifted its stake in The Timken by 358.1% in the third quarter. Principal Financial Group Inc. now owns 981,050 shares of the industrial products company’s stock valued at $53,191,000 after purchasing an additional 766,883 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in The Timken by 63.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,322,646 shares of the industrial products company’s stock valued at $102,320,000 after purchasing an additional 513,687 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in The Timken by 121.0% in the fourth quarter. JPMorgan Chase & Co. now owns 719,133 shares of the industrial products company’s stock valued at $55,632,000 after purchasing an additional 393,679 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.
A number of analysts recently commented on the company. KeyCorp boosted their target price on The Timken from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, January 14th. Vertical Research began coverage on The Timken in a research note on Wednesday, January 20th. They set a “hold” rating for the company. Bank of America lifted their price target on The Timken from $76.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, November 25th. Smith Barney Citigroup lifted their price target on The Timken from $75.00 to $95.00 in a research note on Thursday, January 7th. Finally, Evercore ISI downgraded The Timken to an “outperform” rating in a research note on Tuesday, February 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The Timken presently has an average rating of “Buy” and an average price target of $88.57.
About The Timken
The Timken Company designs, manufactures, and manages engineered bearings and power transmission products and services worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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