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Philip D. Fracassa, Executive Vice President and Chief Financial Officer of Timken Co . (NYSE:TKR), recently sold a significant portion of the company’s stock. According to a regulatory filing, Fracassa sold 5,000 shares of Timken’s common stock on February 7, 2025, at an average price of $81.50 per share, totaling approximately $407,500. The transaction comes as Timken, with a market capitalization of $5.8 billion, maintains strong financial health metrics with a current ratio of 3.07x.
Following this transaction, Fracassa holds 90,541 shares of the company directly. Additionally, on February 8 and February 9, Fracassa acquired a total of 3,894 shares at no cost, due to the vesting of time-based restrictive share units. These acquisitions increased his total holdings to 93,871 shares.
The transactions were part of a series of moves by Fracassa, which also included the disposition of 1,161 shares to cover tax obligations associated with the vesting of share units. These shares were disposed of at a price of $81.15 each, amounting to $94,215.
These transactions reflect Fracassa’s ongoing management of his equity stake in Timken, a company known for its specialization in ball and roller bearings.
In other recent news, Timken has been a focal point for analysts, with DA Davidson adjusting its price target for the company to $97, while maintaining a Buy rating. This adjustment comes in the wake of Timken’s fourth-quarter earnings for 2024, which revealed challenges in organic growth, particularly due to market conditions in Europe. Despite these challenges, the company’s newly appointed CEO has announced cost reductions that are expected to boost earnings. Furthermore, Timken, known for its strong free cash flow generation, is anticipated to continue this trend with guidance suggesting growth in 2025.
Meanwhile, Citi increased its price target for Timken to $95, maintaining a Buy rating. The revised target follows a review of the company’s fourth-quarter results and an update to its financial model. On the other hand, BofA Securities upgraded Timken’s stock rating from Underperform to Neutral and increased the price target to $78. This change reflects a more optimistic outlook for Timken, as industry conditions appear to be improving.
These are recent developments that underline the company’s strategic adjustments and strong financial performance despite the current market challenges. Analysts from DA Davidson, Citi, and BofA Securities continue to monitor Timken’s progress, emphasizing the company’s efforts to navigate these challenges and capitalize on growth opportunities.
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