The Timken Company (NYSE:TKR) CFO Philip D. Fracassa Sells 10,000 Shares

The Timken Company (NYSE:TKR) CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Timken Stock Up 0.4 %

TKR stock opened at $90.05 on Wednesday. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51. The firm’s 50-day moving average is $86.41 and its two-hundred day moving average is $80.35. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $2.09 EPS. Timken’s revenue was down 5.7% on a year-over-year basis. On average, analysts forecast that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be issued a $0.34 dividend. This is an increase from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Monday, May 13th. Timken’s payout ratio is presently 25.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TKR shares. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Loop Capital boosted their target price on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Oppenheimer reissued an “outperform” rating and set a $100.00 target price (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. Evercore ISI lowered shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price for the company. in a research note on Tuesday, February 20th. Finally, KeyCorp boosted their target price on shares of Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Timken currently has a consensus rating of “Hold” and an average target price of $87.09.

Institutional Trading of Timken

A number of hedge funds and other institutional investors have recently made changes to their positions in TKR. Commonwealth Equity Services LLC raised its holdings in shares of Timken by 19.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,599 shares of the industrial products company’s stock worth $559,000 after purchasing an additional 1,245 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Timken by 8.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,954 shares of the industrial products company’s stock worth $1,981,000 after purchasing an additional 2,026 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Timken by 8.6% in the third quarter. Verdence Capital Advisors LLC now owns 4,387 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 348 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Timken by 26.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,643 shares of the industrial products company’s stock worth $4,089,000 after acquiring an additional 11,748 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of Timken in the third quarter worth approximately $235,000. 89.08% of the stock is currently owned by institutional investors.

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.