Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Timken Co shares valued at $1,668,000 were sold by Kyle Richard G on Aug 15 ’24. At $83.40 per share, Kyle Richard G sold 20,000 shares. The insider’s holdings dropped to 224,485 shares worth approximately $17.78 million following the completion of this transaction.
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Also, Fracassa Philip D. sold 5,000 shares, netting a total of over 415,950 in proceeds. Following the sale of shares at $83.19 each, the insider now holds 95,541 shares.
Before that, Fracassa Philip D. had sold 5,000 shares from its account. In a trade valued at $403,850, the EVP & CFO traded Timken Co shares for $80.77 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $7.96 million.
As published in their initiating research note from Citigroup on October 14, 2024, Timken Co [TKR] has been a Neutral and the price target has been revised to $90. Analysts at Raymond James started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in late June. As of February 20, 2024, Evercore ISI has decreased its “an Outperform” rating to a “an In-line” for TKR. Earlier on January 23, 2024, DA Davidson initiated its rating. Their recommendation was “a Buy” for TKR stock.
Analyzing TKR Stock Performance
During the last five days, there has been a drop of approximately -6.03%. Over the course of the year, Timken Co shares have dropped approximately -1.17%. Shares of the company reached a 52-week high of $94.71 on 04/30/24 and a 52-week low of $72.35 on 11/05/24. A 50-day SMA is recorded $82.67, while a 200-day SMA reached $84.03. Nevertheless, trading volume fell to 1.85 million shares from 2.26 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 76.00, which, if violated, would cause prices to drop to 72.80. In the upper region, resistance lies at 81.39. The next price resistance is at 83.58. RSI (Relative Strength Index) is 42.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.92, which suggests the price will decrease in the coming days. Percent R is at 54.76%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
