Insider Sale: President and CEO Richard Kyle Sells 30,000 Shares of The Timken Co (TKR)
On May 14, 2024, Richard Kyle, President and Chief Executive Officer of The Timken Co (NYSE:TKR), executed a sale of 30,000 shares of the company. The transaction was documented in a recent SEC Filing. The shares were sold at a price of $92.38 each, totaling $2,771,400.
The Timken Co, headquartered in North Canton, Ohio, is a global leader in engineered bearings and power transmission products and services. The company's offerings help improve the reliability and efficiency of machinery and equipment all around the world.
Over the past year, the insider has sold a total of 235,976 shares of The Timken Co and has not made any purchases. This recent sale is part of a broader trend observed over the past year, where there have been 15 insider sells and no insider buys.
The shares of The Timken Co were trading at $92.38 on the day of the sale, giving the company a market cap of approximately $6.56 billion. The price-earnings ratio of the company stands at 17.73, which is below the industry median of 23.39.
According to the GF Value, The Timken Co is considered Modestly Overvalued with a price-to-GF-Value ratio of 1.12. The GF Value of $82.76 is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates.
The above insider trend image reflects the recent selling activities within the company, aligning with the broader trend of insider sales over purchases in the past year.
The GF Value image indicates that the stock is currently trading above its estimated intrinsic value, suggesting a modest overvaluation based on the calculated GF Value.
This sale by the insider might be of interest to current and potential investors, as insider transactions can provide insights into how the company's top executives view the stock's current valuation and future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
