The Toro Company (NYSE:TTC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in The Toro Company (NYSE:TTC) by 20.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,384 shares of the company’s stock after selling 16,265 shares during the period. Bank of Montreal Can owned about 0.06% of Toro worth $5,319,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its position in shares of Toro by 31.5% in the 3rd 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 in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Toro by 82.0% in the 3rd 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. Daiwa Securities Group Inc. raised its position in shares of Toro by 6.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock valued at $676,000 after purchasing an additional 500 shares in the last quarter. Cerity Partners LLC raised its position in shares of Toro by 49.1% in the 3rd quarter. Cerity Partners LLC now owns 36,927 shares of the company’s stock valued at $3,203,000 after purchasing an additional 12,157 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Toro by 27.1% in the 3rd quarter. Citigroup Inc. now owns 69,580 shares of the company’s stock valued at $6,035,000 after purchasing an additional 14,826 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Toro Price Performance

Shares of TTC opened at $86.35 on Wednesday. The company has a market cap of $8.86 billion, a P/E ratio of 22.66 and a beta of 0.70. The stock has a fifty day moving average price of $84.01 and a 200 day moving average price of $87.82. 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 12 month low of $77.15 and a 12 month high of $102.00.

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

Toro Dividend Announcement

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

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.