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. Timken Co. shares valued at $370,150 were sold by Fracassa Philip D. on Nov 14 ’23. At $74.03 per share, Fracassa Philip D. sold 5,000 shares. The insider’s holdings dropped to 88,868 shares worth approximately $7.48 million following the completion of this transaction.
Also, Coughlin Christopher A sold 10,000 shares, netting a total of over 750,500 in proceeds. Following the sale of shares at $75.05 each, the insider now holds 92,117 shares.
Before that, Kyle Richard G had sold 20,000 shares from its account. In a trade valued at $1,509,200, the President and CEO traded Timken Co. shares for $75.46 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $28.55 million.
As published in a research note from Evercore ISI on February 20, 2024, Timken Co. [TKR] has been rated down from an Outperform to an In-line and the price target has been revised to $84. Analysts at DA Davidson started covering the stock with ‘”a Buy”‘ outlook in a report released in late January. As of January 08, 2024, Morgan Stanley has initiated its “an Equal-weight” rating for TKR. Earlier on December 20, 2023, Jefferies downgraded its rating. Their new recommendation was “a Hold” for TKR stock which previously was a “a Buy”.
Analyzing TKR Stock Performance
During the last five days, there has been a drop of approximately -2.75%. Over the course of the year, Timken Co. shares have jumped approximately 5.04%. Shares of the company reached a 52-week high of $89.64 on 03/22/24 and a 52-week low of $76.64 on 01/17/24. A 50-day SMA is recorded $84.73, while a 200-day SMA reached $79.47. Nevertheless, trading volume fell to 0.53 million shares from 0.48 million shares the previous day.
Support And Resistance Levels for Timken Co. (TKR)
According to the 24-hour chart, there is a support level at 83.56, which, if violated, would cause prices to drop to 82.93. In the upper region, resistance lies at 85.17. The next price resistance is at 86.14. RSI (Relative Strength Index) is 43.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.04, which suggests the price will decrease in the coming days. Percent R is at 89.74%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
