Christopher A. Coughlin, Executive Vice President and President of Industrial Motion at Timken Co (NYSE:TKR), recently sold company shares valued at more than $4.3 million, according to a new SEC filing. The transactions, which took place on May 2 and May 3, 2024, involved the sale of 49,006 shares at prices ranging from $88.86 to $89.3.
Coughlin's sales on May 2 included 20,000 shares of Timken common stock sold at an average price of $88.86, while the May 3 sales involved an additional 29,006 shares at a weighted average price of $89.3. The total value of the shares sold on these dates amounted to approximately $4,367,435.
In addition to the sales, the SEC filing revealed that Coughlin also acquired 36,825 shares through the exercise of options on May 3, at a set price of $45.35 per share. The total value for these transactions was $1,670,013. It should be noted that these options were part of a grant from February 13, 2017, which vested in increments over the years following the grant date.
Furthermore, Coughlin disposed of 7,819 shares on May 3 to cover tax liabilities in a transaction valued at $89.9 per share, totaling $702,928.
After these transactions, Coughlin's ownership in the company stands at 84,995 shares of common stock. The reported transactions reflect Coughlin's trading activities and current stake in the company, providing investors with insight into executive movements within Timken.
Investors and the market often closely monitor the buying and selling of shares by company executives as it may provide signals about the company's future prospects or the executive's view of the company's current valuation.
InvestingPro Insights
In light of the recent share transactions by Timken Co (NYSE:TKR) executive Christopher A. Coughlin, analyzing the company's financial metrics can provide investors with a broader context. Timken has shown stability with a PEG Ratio of -2.85 over the last twelve months as of Q1 2024, which may suggest that the market expects slower growth relative to the company's earnings. Additionally, the company's Price / Book ratio stands at 2.42, indicating how the market values the company relative to its book value.
From an earnings perspective, Timken has a P/E Ratio (Adjusted) of 15.43 for the same period, offering a measure of the company's earnings relative to its share price. This can be a useful gauge for investors considering the company's profitability in relation to market expectations.
Two notable InvestingPro Tips for Timken include the company's consistent dividend payments and the recent analyst sentiment. Timken has maintained dividend payments for 54 consecutive years, reflecting a strong commitment to returning value to shareholders. Moreover, 6 analysts have revised their earnings upwards for the upcoming period, hinting at potential optimism regarding the company's future financial performance.
For those looking to delve deeper into Timken's financials and strategic positioning, InvestingPro offers additional insights and tips. There are more tips available on InvestingPro that can help investors make informed decisions, and by using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. This could be a valuable resource for those monitoring the company's performance and executive trading activities.
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