Insider Selling: The Timken Company (NYSE:TKR) EVP Sells $2,590,235.80 in Stock

The Timken Company (NYSE:TKR) EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares in the company, valued at $7,590,053.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Timken Stock Down 0.2 %

Shares of NYSE TKR opened at $89.82 on Thursday. The firm’s fifty day moving average is $86.53 and its 200 day moving average is $80.41. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.50 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 earnings per share. On average, equities research analysts expect that The Timken Company will post 6.18 earnings per share for the current year.

Timken Increases Dividend

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

Institutional Trading of Timken

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its position 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 during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Timken by 8.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 26,954 shares of the industrial products company’s stock worth $1,981,000 after buying an additional 2,026 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Timken by 8.6% during the 3rd 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Timken by 26.8% in the 3rd 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 3rd quarter valued at approximately $235,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $100.00 price objective (up previously from $97.00) on shares of Timken in a research report on Thursday, March 21st. Loop Capital raised their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. StockNews.com cut Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. KeyCorp raised their price objective on Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group upped their target price on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.09.

About Timken

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.