The Timken Company (NYSE:TKR) CEO Richard G. Kyle Sells 16,650 Shares

The Timken Company (NYSE:TKRGet Rating) CEO Richard G. Kyle sold 16,650 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $74.43, for a total transaction of $1,239,259.50. Following the transaction, the chief executive officer now owns 339,843 shares in the company, valued at $25,294,514.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Timken Stock Performance

Shares of TKR stock opened at $74.57 on Thursday. The stock has a fifty day moving average of $67.01 and a 200 day moving average of $62.72. The Timken Company has a 52 week low of $50.85 and a 52 week high of $75.80. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.06 and a beta of 1.58. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.65.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Monday, November 21st will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, November 18th. Timken’s payout ratio is 24.90%.

Analyst Ratings Changes

A number of research analysts have commented on TKR shares. Oppenheimer increased their price target on shares of Timken from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, September 30th. Morgan Stanley increased their price objective on Timken from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 27th. Citigroup increased their price objective on Timken to $78.00 in a research note on Tuesday, November 1st. StockNews.com raised Timken from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 28th. Finally, KeyCorp increased their price objective on Timken from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Timken presently has a consensus rating of “Moderate Buy” and an average target price of $76.63.

Institutional Trading of Timken

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TKR. Venture Visionary Partners LLC purchased a new stake in Timken in the second quarter worth $35,000. Private Trust Co. NA bought a new position in Timken in the second quarter worth $35,000. Ronald Blue Trust Inc. bought a new position in Timken in the second quarter worth $39,000. Carolinas Wealth Consulting LLC raised its holdings in Timken by 4,865.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 19,118 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 18,733 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings in Timken by 222.9% in the second quarter. Janiczek Wealth Management LLC now owns 678 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 81.39% of the company’s stock.

Timken Company Profile

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The Timken Company designs, manufactures, and manages 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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Insider Buying and Selling by Quarter for Timken (NYSE:TKR)

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