Officer of Timken Co (TKR) Acquires $319,323 in Company Shares

Timken Co (NYSE:TKR) COO Christopher Coughlin picked up 7,060 restricted shares of the stock in a transaction dated August 4th, 2014. The shares were performance based restricted stock that are subject to certain performance criteria up to December 31, 2015.  The shares are worth a total of $319,323.00 at todays current stock price. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Timken Co (NYSE:TKR) is currently trading at 45.22 up 0.18% during early trading on Wednesday, hitting $45.31 intraday.  51,500 shares of the company’s stock have traded hands. Timken Co, inc. has a 52 week low of $43.62 and a 52 week high of $69.51. The stock has a 50-day moving average of $53.49 and a 200-day moving average of $57.01. The company’s market cap is $4.13 billion.

Timken Co, inc. (NYSE:TKR) last posted its quarterly earnings results on July 31, 2014. The company reported $0.65 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.66 by $0.01. The company had revenue of $789 million for the quarter, compared to the consensus estimate of $800.10 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was down 20% on a year-over-year basis. Analysts expect that Timken Co, inc. will post $2.53 EPS for the current fiscal year.

TKR has been the subject of a number of recent research reports. Analysts at Zacks downgraded from “neutral” to a Underperform rating on shares of Timken Co, in a research note on Thursday, July 3, 2014. They now have a $47.70 price target on the stock.  Separately, analysts at Jefferies lowered their price target on shares of Timken Co, in a research note on  July 7th to $60.00 from $75.00. Finally, analysts at BB&T Corp lowered their price target on shares of Timken Co, in a research note on July 1, 2014. They now have a $57.00 price target on the stock, down from $78.00. Zero analysts have rated the stock with a sell rating, four have assigned a hold rating, 5 have assigned a buy rating and 1 have assigned a overweight rating to the company’s stock. The stock presently has an average rating of “OVERWEIGHT” and an average price target of $54.71.

The Timken Company (Timken) develops, manufactures, markets and sells products for friction management and mechanical power transmission. The Timken Company manufactures and manages global supply chains for two product lines: anti-friction bearings and adjacent mechanical power transmission components. Its products and services include bearings and power transmission, tapered roller bearings, precision cylindrical and ball bearings, spherical and cylindrical roller bearings, chains and augers, gear-drive systems, aerospace products and services. Timken’s global operation consists of 62 manufacturing and service facilities, 12 technology and engineering centers, 23 distribution centers and warehouses. Timken operates in 28 countries and territories. In July 2014, Timken Co completed the spinoff of TimkenSteel Corporation.