Bridgewater Associates LP Sells 1,074 Shares of The Toro Company (NYSE:TTC)

Bridgewater Associates LP lowered its holdings in The Toro Company (NYSE:TTC) by 12.6% during the third quarter, Holdings Channel.com reports. The firm owned 7,445 shares of the company’s stock after selling 1,074 shares during the period. Bridgewater Associates LP’s holdings in Toro were worth $646,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Thematics Asset Management lifted its position in Toro by 20.7% during the 3rd quarter. Thematics Asset Management now owns 151,473 shares of the company’s stock worth $13,137,000 after buying an additional 26,000 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Toro by 59.7% in the third quarter. BNP Paribas Financial Markets now owns 55,621 shares of the company’s stock worth $4,824,000 after acquiring an additional 20,783 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Toro by 57.7% during the third quarter. Quantbot Technologies LP now owns 24,569 shares of the company’s stock worth $2,131,000 after purchasing an additional 8,986 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Toro by 31.5% during the third quarter. Brown Brothers Harriman & Co. now owns 298,150 shares of the company’s stock valued at $25,859,000 after purchasing an additional 71,431 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of Toro by 82.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 55,721 shares of the company’s stock valued at $4,833,000 after purchasing an additional 25,105 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Toro Stock Performance

Shares of TTC stock opened at $86.47 on Tuesday. The stock has a market cap of $8.87 billion, a PE ratio of 22.70 and a beta of 0.69. The stock has a 50-day moving average of $84.01 and a 200-day moving average of $87.84. 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 Toro Company has a one year low of $77.15 and a one year high of $102.00.

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

Toro Dividend Announcement

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

Toro 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.