VP, GC, and Secretary Patel Hansal N. sold 1,247 shares of The Timken Company [TKR]

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. The Timken Company shares valued at $90,815 were sold by Patel Hansal N. on Nov 01. At $72.83 per share, Patel Hansal N. sold 1,247 shares. The insider’s holdings dropped to 6,309 shares worth approximately $0.44 million following the completion of this transaction.


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Also, Kyle Richard G sold 15,873 shares, netting a total of over 1,115,671 in proceeds. Following the sale of shares at $70.29 each, the insider now holds 339,843 shares.

Before that, Coughlin Christopher A had sold 15,000 shares from its account. In a trade valued at $1,039,350, the EVP & Pres. Industrial Motion traded The Timken Company shares for $69.29 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $7.2 million.

As published in their initiating research note from Oppenheimer on April 14, 2022, The Timken Company [TKR] has been an Outperform and the price target has been revised to $75. This represents a 6.99% premium over Thursday’s closing price. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in mid February. As of January 07, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for TKR. Earlier on December 13, 2021, Goldman downgraded its rating. Their new recommendation was “a Neutral” for TKR stock which previously was a “a Buy”.

Analyzing TKR Stock Performance

On Thursday, The Timken Company [NYSE: TKR] rose 0.77% to $69.76. The stock’s lowest price that day was $67.63, but it reached a high of $70.89 in the same session. During the last five days, there has been a surge of approximately 1.65%. Over the course of the year, The Timken Company shares have jumped approximately 0.68%. Shares of the company reached a 52-week high of $75.50 on 01/07/22 and a 52-week low of $50.85 on 07/05/22. A 50-day SMA is recorded $64.81, while a 200-day SMA reached $62.15. Nevertheless, trading volume fell to 0.78 million shares from 0.64 million shares the previous day.

Support And Resistance Levels for The Timken Company (TKR)

According to the 24-hour chart, there is a support level at 67.96, which, if violated, would cause prices to drop to 66.17. In the upper region, resistance lies at 71.22. The next price resistance is at 72.69. RSI (Relative Strength Index) is 59.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.27, which suggests the price will increase in the coming days. Percent R is at 34.48%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is The Timken Company subject to short interest?

Stocks of The Timken Company saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.3 million shares to 2.05 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.75 million shares. A jump of 14.63% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.35 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.35.

Which companies own the most shares of The Timken Company (TKR)?

According to The Vanguard Group, Inc. filings, the company currently owns 6,327,303 shares, which is about 8.62% of the total TKR shares outstanding. The investor’s shares have appreciated by 42,873 from its previous 13-F filing of 6284430.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $315,112,657. JPMorgan Investment Management, I reduced a -8.18% interest valued at $177.42 million while American Century Investment Manag sold a -136,839 stake. A total of -2,725 shares of The Timken Company were sold by Dimensional Fund Advisors LP during the quarter, and 44,586 were bought by Franklin Mutual Advisers LLC. In its current portfolio, EARNEST Partners LLC holds 2,029,440 shares valued at $119.82 million.

In terms of The Timken Company share price expectations, FactSet research, analysts set an average price target of $78.82 in the next 12 months, up nearly 12.67% from the previous closing price of $69.23. Analysts anticipate The Timken Company stock to reach $111.00 by 2022, with the lowest price target being $62.00. In spite of this, 11 analysts ranked The Timken Company stock as an Overweight at the end of 2022. On September 23, 2021, Loop Capital assigned a price target of “a Hold” to the stock and initiated coverage with a $72.

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