The Toro Company (NYSE:TTC) Shares Acquired by Citigroup Inc.

Citigroup Inc. raised its holdings in The Toro Company (NYSE:TTC - Free Report) by 27.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,580 shares of the company's stock after acquiring an additional 14,826 shares during the period. Citigroup Inc. owned approximately 0.07% of Toro worth $6,035,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Eagle Asset Management Inc. acquired a new stake in shares of Toro in the third quarter valued at approximately $1,261,000. Intech Investment Management LLC grew its holdings in Toro by 64.8% in the 3rd quarter. Intech Investment Management LLC now owns 29,735 shares of the company's stock valued at $2,579,000 after buying an additional 11,687 shares in the last quarter. Nuance Investments LLC acquired a new stake in shares of Toro in the 3rd quarter worth $29,146,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Toro during the 3rd quarter worth $1,211,000. Finally, Commerce Bank boosted its position in shares of Toro by 36.0% during the 3rd quarter. Commerce Bank now owns 12,472 shares of the company's stock valued at $1,082,000 after acquiring an additional 3,304 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Trading Down 0.7 %

NYSE TTC traded down $0.61 during trading on Monday, hitting $86.47. The stock had a trading volume of 682,382 shares, compared to its average volume of 856,022. 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 company has a market capitalization of $8.87 billion, a PE ratio of 22.70 and a beta of 0.69. The firm has a 50 day moving average price of $84.01 and a 200 day moving average price of $87.84. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00.

Toro (NYSE:TTC - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). Toro had a return on equity of 25.94% and a net margin of 8.89%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the company earned $0.95 earnings per share. Toro's quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that The Toro Company will post 4.16 earnings per share for the current year.

Toro Dividend Announcement

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

Analyst Ratings Changes

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

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.