Timken Co’s recent filing unveils that its Director Kyle Richard G unloaded Company’s shares for reported $2.46 million on Nov 12 ’24. In the deal valued at $75.08 per share,32,764 shares were sold. As a result of this transaction, Kyle Richard G now holds 161,721 shares worth roughly $12.09 million.
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Then, Kyle Richard G sold 30,000 shares, generating $2,297,748 in total proceeds. Upon selling the shares at $76.59, the Director now owns 194,485 shares.
Before that, Kyle Richard G bought 62,764 shares. Timken Co shares valued at $4,895,600 were divested by the Director at a price of $78.00 per share.
Morgan Stanley upgraded its Timken Co [TKR] rating to an Overweight from a an Equal-weight in a research note published on December 17, 2024; the price target was increased to $93 from $82. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in early December from “a Neutral” to “a Buy”. Jefferies also remained covering TKR and has increased its forecast on December 06, 2024 with a “Buy” recommendation from previously “Hold” rating. KeyBanc Capital Markets revised its rating on November 22, 2024. It rated TKR as “a Sector weight” which previously was an “an Overweight”.
Price Performance Review of TKR
On Tuesday, Timken Co [NYSE:TKR] saw its stock fall -0.15% to $74.75. Over the last five days, the stock has lost -3.72%. Timken Co shares have fallen nearly -6.74% since the year began. Nevertheless, the stocks have fallen -5.86% over the past one year. While a 52-week high of $94.71 was reached on 04/30/24, a 52-week low of $72.35 was recorded on 11/05/24. SMA at 50 days reached $79.43, while 200 days put it at $83.18.
Levels Of Support And Resistance For TKR Stock
The 24-hour chart illustrates a support level at 74.23, which if violated will result in even more drops to 73.70. On the upside, there is a resistance level at 75.55. A further resistance level may holdings at 76.34. The Relative Strength Index (RSI) on the 14-day chart is 40.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.71%. Stochastics %K at 5.44% indicates the stock is a buying.
How much short interest is there in Timken Co?
A steep rise in short interest was recorded in Timken Co stocks on 2024-11-29, dropping by -0.26 million shares to a total of 1.19 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 1.44 million shares. There was a decline of -21.52%, which implies that there is a negative sentiment for the stock.
