The Toro Company (NYSE:TTC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its position in The Toro Company (NYSE:TTC) by 28.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,445 shares of the company’s stock after selling 4,254 shares during the quarter. Advisors Asset Management Inc.’s holdings in Toro were worth $906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TTC. UMB Bank n.a. raised its holdings in shares of Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after buying an additional 333 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Toro by 850.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock worth $74,000 after buying an additional 765 shares in the last quarter. Fifth Third Bancorp increased its position in Toro by 22.4% in the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after acquiring an additional 166 shares during the period. CWM LLC raised its stake in Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after acquiring an additional 143 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in Toro during the 2nd quarter worth $94,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Price Performance

NYSE:TTC opened at $86.18 on Wednesday. The Toro Company has a 52-week low of $77.15 and a 52-week high of $102.00. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The firm has a market cap of $8.84 billion, a P/E ratio of 22.62 and a beta of 0.69. The business’s 50-day moving average price is $83.90 and its 200 day moving average price is $87.93.

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 the consensus estimate of $1.23 by ($0.05). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. As a group, sell-side analysts predict that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio is 37.80%.

Analyst Upgrades and Downgrades

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

About Toro

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.