The Toro Company (NYSE:TTC) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its position in The Toro Company (NYSE:TTC) by 80.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,287 shares of the company’s stock after selling 13,853 shares during the quarter. Inspire Investing LLC’s holdings in Toro were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TTC. Price T Rowe Associates Inc. MD lifted its stake in shares of Toro by 25.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after purchasing an additional 1,332,248 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Toro by 37,332.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock valued at $44,034,000 after buying an additional 469,643 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Toro by 682.7% during the second quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after buying an additional 420,539 shares during the period. Millennium Management LLC increased its position in shares of Toro by 11,970.3% in the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock worth $36,750,000 after acquiring an additional 389,752 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in shares of Toro by 11.5% in the 1st quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock valued at $249,751,000 after acquiring an additional 280,855 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. DA Davidson lowered their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Northland Securities reiterated a “market perform” rating and set a $100.00 target price on shares of Toro in a report on Friday, September 6th. Finally, Robert W. Baird decreased their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $93.33.

Toro Stock Performance

NYSE:TTC opened at $83.89 on Friday. The firm has a 50-day moving average of $86.61 and a two-hundred day moving average of $88.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The stock has a market cap of $8.61 billion, a P/E ratio of 22.02 and a beta of 0.68. The Toro Company has a 1-year low of $77.15 and a 1-year high of $102.00.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). Toro had a net margin of 8.89% and a return on equity of 25.94%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts expect that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Monday, September 30th. Toro’s payout ratio is currently 37.80%.

Toro Company Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.