Timken Co (NYSE:TKR) EVP Ronald J. Myers sold 6,484 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $53.44, for a total value of $346,504.96. Following the sale, the executive vice president now owns 22,162 shares in the company, valued at approximately $1,184,337.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Timken stock traded up $0.17 on Friday, reaching $53.65. 660,419 shares of the company were exchanged, compared to its average volume of 673,236. Timken Co has a one year low of $33.98 and a one year high of $54.52. The company has a 50-day moving average of $45.31 and a 200 day moving average of $45.81. The company has a current ratio of 2.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.38 and a beta of 1.81.
Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Timken had a net margin of 8.11% and a return on equity of 21.12%. The business had revenue of $914.00 million during the quarter, compared to the consensus estimate of $945.87 million. During the same quarter last year, the company posted $1.06 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts predict that Timken Co will post 4.72 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Timken by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 6,465,944 shares of the industrial products company’s stock valued at $331,961,000 after acquiring an additional 35,795 shares during the period. BlackRock Inc. raised its stake in Timken by 1.0% in the 2nd quarter. BlackRock Inc. now owns 6,294,669 shares of the industrial products company’s stock valued at $323,168,000 after acquiring an additional 64,489 shares during the period. Boston Partners raised its stake in Timken by 5.3% in the 2nd quarter. Boston Partners now owns 2,328,332 shares of the industrial products company’s stock valued at $119,344,000 after acquiring an additional 117,943 shares during the period. Earnest Partners LLC raised its stake in Timken by 0.8% in the 2nd quarter. Earnest Partners LLC now owns 1,951,019 shares of the industrial products company’s stock valued at $100,165,000 after acquiring an additional 14,670 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Timken by 4.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,506,293 shares of the industrial products company’s stock valued at $65,539,000 after acquiring an additional 65,205 shares during the period. Institutional investors and hedge funds own 78.44% of the company’s stock.
TKR has been the topic of a number of analyst reports. Zacks Investment Research cut Timken from a “hold” rating to a “strong sell” rating and set a $56.00 price objective on the stock. in a research note on Tuesday. Morgan Stanley set a $52.00 price objective on Timken and gave the stock a “hold” rating in a research note on Friday, November 1st. Bank of America cut Timken from a “neutral” rating to an “underperform” rating and set a $41.00 price objective on the stock. in a research note on Thursday, September 26th. Goldman Sachs Group upgraded Timken from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $56.00 in a research note on Tuesday, July 16th. Finally, ValuEngine upgraded Timken from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $51.25.
Timken Company Profile
The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products 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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