Readystate Asset Management LP Takes $1.74 Million Position in Timken Company (The) $TKR

Readystate Asset Management LP bought a new stake in Timken Company (The) (NYSE:TKR) in the 2nd quarter, Holdings Channel.com reports. The firm bought 11,946 shares of the industrial products company’s stock, valued at approximately $1,736,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd bought a new stake in Timken in the fourth quarter valued at approximately $25,000. Clearstead Advisors LLC lifted its position in shares of Timken by 130.3% in the fourth quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. Allworth Financial LP bought a new position in shares of Timken during the 2nd quarter worth approximately $37,000. Elevation Wealth Partners LLC increased its holdings in shares of Timken by 420.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 260 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 210 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of Timken during the 2nd quarter worth approximately $41,000. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TKR. Evercore reiterated an “outperform” rating and issued a $158.00 price objective on shares of Timken in a report on Monday, May 11th. Citigroup raised their target price on shares of Timken from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Jefferies Financial Group set a $135.00 target price on shares of Timken in a report on Tuesday, September 1st. Weiss Ratings upgraded shares of Timken from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 20th. Finally, DA Davidson set a $130.00 price target on shares of Timken in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.50.

Insiders Place Their Bets

In other news, Director Richard Kyle sold 13,637 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $126.63, for a total value of $1,726,853.31. Following the completion of the transaction, the director owned 183,724 shares of the company’s stock, valued at approximately $23,264,970.12. This represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.10% of the stock is owned by insiders.

Timken Stock Performance

NYSE TKR opened at $123.21 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 3.10 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $8.54 billion, a P/E ratio of 33.39, a P/E/G ratio of 1.36 and a beta of 1.21. Timken Company has a 12-month low of $70.57 and a 12-month high of $146.37. The firm has a 50-day moving average price of $132.65 and a two-hundred day moving average price of $120.88.

Timken (NYSE:TKR) last released its earnings results on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.21. Timken had a return on equity of 12.63% and a net margin of 5.43%.The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $1.12 EPS. Timken’s quarterly revenue was up 7.5% on a year-over-year basis. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. Analysts anticipate that Timken Company will post 6.26 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.44 annualized dividend and a yield of 1.2%. Timken’s dividend payout ratio is presently 39.02%.

Timken Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.