11,946 Shares in Timken Company (The) $TKR Purchased by Readystate Asset Management LP

Key Points

• Readystate Asset Management purchased 11,946 Timken shares worth approximately $1.74 million during the second quarter. Institutional investors and hedge funds collectively own 89.08% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $145.50.
• Timken exceeded quarterly expectations, reporting $1.83 in earnings per share and $1.26 billion in revenue, while revenue increased 7.5% year over year. The company also declared a quarterly dividend of $0.36 per share, representing a 1.2% annualized yield.

Readystate Asset Management LP purchased a new stake in Timken Company (The) (NYSE:TKR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,946 shares of the industrial products company's stock, valued at approximately $1,736,000.

Several other hedge funds also recently modified their holdings of TKR. Gordian Capital Singapore Pte Ltd bought a new position in Timken during the fourth quarter worth about $25,000. Clearstead Advisors LLC raised its position in shares of Timken by 130.3% in the 4th quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 172 shares during the period. Allworth Financial LP bought a new position in Timken during the 2nd quarter worth approximately $37,000. Elevation Wealth Partners LLC grew its holdings in Timken by 420.0% during the second quarter. Elevation Wealth Partners LLC now owns 260 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 210 shares during the period. Finally, Trust Co. of Vermont bought a new stake in Timken in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TKR shares. Evercore reissued an "outperform" rating and issued a $158.00 price target on shares of Timken in a report on Monday, May 11th. The Goldman Sachs Group raised their price objective on Timken from $128.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. boosted their target price on Timken from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Morgan Stanley set a $140.00 price target on Timken in a report on Thursday, May 21st. Finally, KeyCorp raised their price target on Timken from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Timken currently has an average rating of "Moderate Buy" and an average target price of $145.50.

Timken Stock Performance

Shares of TKR stock opened at $123.21 on Tuesday. Timken Company has a 12 month low of $70.57 and a 12 month high of $146.37. The company's fifty day simple moving average is $132.65 and its 200-day simple moving average is $120.88. The firm has a market cap of $8.54 billion, a PE ratio of 33.39, a P/E/G ratio of 1.36 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 3.10 and a debt-to-equity ratio of 0.61.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.21. Timken had a net margin of 5.43% and a return on equity of 12.63%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $1.12 earnings per share. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. Equities research analysts expect that Timken Company will post 6.26 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.2%. Timken's payout ratio is currently 39.02%.

Insider Transactions at Timken

In related news, Director Richard Kyle sold 13,637 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $126.63, for a total transaction of $1,726,853.31. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.10% of the company's stock.

About Timken

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.

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