Oppenheimer Asset Management Inc. Cuts Position in The Toro Company (NYSE:TTC)

Oppenheimer Asset Management Inc. lessened its holdings in The Toro Company (NYSE:TTC) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,907 shares of the company’s stock after selling 124 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Toro were worth $946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Toro by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock valued at $968,083,000 after purchasing an additional 73,719 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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. Select Equity Group L.P. increased its stake in shares of Toro by 1.6% in the 2nd quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock valued at $516,120,000 after purchasing an additional 88,536 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Toro by 1.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock valued at $445,673,000 after purchasing an additional 65,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Toro by 13.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock valued at $84,279,000 after purchasing an additional 110,330 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

TTC has been the subject of several research reports. DA Davidson cut their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Northland Securities reiterated a “market perform” rating and set a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. Finally, Robert W. Baird cut their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $93.33.

Toro Price Performance

TTC stock opened at $81.82 on Tuesday. 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 business has a 50 day simple moving average of $83.87 and a 200-day simple moving average of $88.14. The firm has a market capitalization of $8.40 billion, a PE ratio of 21.44 and a beta of 0.69. The Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00.

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

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Monday, September 30th. Toro’s dividend payout ratio is presently 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.