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 the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 105,541 shares in the company, valued at $9,473,360.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Timken Stock Performance

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

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

Timken Increases Dividend

The firm also recently declared 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. 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%. The ex-dividend date of this dividend is Monday, May 13th. Timken’s dividend payout ratio (DPR) is currently 25.14%.

Hedge Funds Weigh In On Timken

Several hedge funds have recently made changes to their positions in TKR. Fidelis Capital Partners LLC bought a new position in shares of Timken during the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory bought a new position in shares of Timken during the 4th quarter worth approximately $30,000. GAMMA Investing LLC bought a new position in shares of Timken during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC grew its stake in shares of Timken by 51.3% during the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 205 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new position in shares of Timken in the fourth quarter valued at $58,000. 89.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Loop Capital increased their price target on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Oppenheimer reiterated an “outperform” rating and issued a $100.00 price target (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. DA Davidson assumed coverage on shares of Timken in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 price target on the stock. Finally, KeyCorp increased their price target on shares of Timken from $91.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.