Timken Company (The) (NYSE:TKR) insider Richard G. Kyle sold 9,242 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the completion of the sale, the insider now owns 89,236 shares in the company, valued at $4,439,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Timken Company (NYSE:TKR) traded up $0.65 on Thursday, hitting $49.90. 1,013,264 shares of the company traded hands, compared to its average volume of 782,779. The company has a quick ratio of 1.38, a current ratio of 2.59 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3,791.60, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. Timken Company has a fifty-two week low of $38.60 and a fifty-two week high of $53.10.
Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $771.40 million for the quarter, compared to the consensus estimate of $758.91 million. Timken had a net margin of 6.88% and a return on equity of 13.75%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. equities research analysts expect that Timken Company will post 2.62 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the stock. BidaskClub downgraded shares of Timken from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Goldman Sachs Group downgraded shares of Timken from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the company from $55.00 to $51.00 in a research note on Monday, August 7th. ValuEngine downgraded shares of Timken from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group reissued a “hold” rating and set a $50.00 price objective on shares of Timken in a research note on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $52.00.
A number of large investors have recently bought and sold shares of TKR. Vanguard Group Inc. raised its stake in Timken by 15.0% during the second quarter. Vanguard Group Inc. now owns 7,048,216 shares of the industrial products company’s stock worth $325,981,000 after purchasing an additional 917,902 shares during the period. AJO LP purchased a new position in Timken during the second quarter worth approximately $38,485,000. Canada Pension Plan Investment Board raised its stake in Timken by 506.7% during the second quarter. Canada Pension Plan Investment Board now owns 531,500 shares of the industrial products company’s stock worth $24,582,000 after purchasing an additional 443,900 shares during the period. Koch Industries Inc. purchased a new position in Timken during the second quarter worth approximately $375,000. Finally, Renaissance Technologies LLC purchased a new position in Timken during the second quarter worth approximately $17,219,000. 79.27% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Timken Company (The) (TKR) Insider Sells $459,789.50 in Stock” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/30/timken-company-the-tkr-insider-sells-459789-50-in-stock.html.
Timken Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
Receive News & Ratings for Timken Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.