Timken Co.’s recently made public that its President and CEO Kyle Richard G unloaded Company’s shares for reported $2.77 million on May 14 ’24. In the deal valued at $92.38 per share,30,000 shares were sold. As a result of this transaction, Kyle Richard G now holds 304,485 shares worth roughly $27.95 million.
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Then, Fracassa Philip D. sold 10,000 shares, generating $897,600 in total proceeds. Upon selling the shares at $89.76, the EVP & CFO now owns 105,541 shares.
Before that, Kyle Richard G sold 30,000 shares. Timken Co. shares valued at $2,688,500 were divested by the President and CEO at a price of $89.62 per share. As a result of the transaction, Kyle Richard G now holds 336,799 shares, worth roughly $30.92 million.
Evercore ISI downgraded its Timken Co. [TKR] rating to an In-line from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including DA Davidson’s analysts, who began to cover the stock in late January with a ‘”a Buy”‘ rating. Morgan Stanley began covering TKR with “an Equal-weight” recommendation on January 08, 2024. Jefferies revised its rating on December 20, 2023. It rated TKR as “a Hold” which previously was an “a Buy”.
Price Performance Review of TKR
On Tuesday, Timken Co. [NYSE:TKR] saw its stock fall -0.01% to $91.81. Over the last five days, the stock has lost -0.63%. Timken Co. shares have risen nearly 14.55% since the year began. Nevertheless, the stocks have risen 23.19% over the past one year. While a 52-week high of $95.08 was reached on 04/30/24, a 52-week low of $65.71 was recorded on 01/17/24. SMA at 50 days reached $87.68, while 200 days put it at $79.24. A total of 0.23 million shares were traded, compared to the trading of 0.34 million shares in the previous session.
Levels Of Support And Resistance For TKR Stock
The 24-hour chart illustrates a support level at 91.34, which if violated will result in even more drops to 90.87. On the upside, there is a resistance level at 92.12. A further resistance level may holdings at 92.44. The Relative Strength Index (RSI) on the 14-day chart is 60.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.64%. Stochastics %K at 64.74% indicates the stock is a holding.
