Jensen Investment Management Inc. grew its holdings in The Toro Company (NYSE:TTC - Free Report) by 17.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,550 shares of the company's stock after purchasing an additional 6,810 shares during the quarter. Jensen Investment Management Inc.'s holdings in Toro were worth $3,951,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company's stock worth $55,000 after buying an additional 333 shares during the period. Headlands Technologies LLC bought a new position in Toro in the first quarter worth about $66,000. Covestor Ltd lifted its position in shares of Toro by 522.6% during the first quarter. Covestor Ltd now owns 716 shares of the company's stock valued at $66,000 after buying an additional 601 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Toro by 850.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company's stock valued at $74,000 after buying an additional 765 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Toro by 22.4% in the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company's stock worth $85,000 after buying an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.
Toro Stock Performance
NYSE TTC traded down $1.61 during mid-day trading on Friday, reaching $84.81. 506,473 shares of the stock were exchanged, compared to its average volume of 685,454. The business's 50 day moving average is $84.32 and its 200-day moving average is $88.28. The company has a market capitalization of $8.70 billion, a P/E ratio of 22.26 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. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.
Toro (NYSE:TTC - Get Free Report) last issued its quarterly 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). Toro had a return on equity of 25.94% and a net margin of 8.89%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the firm posted $0.95 EPS. Toro's revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that The Toro Company will post 4.16 EPS for the current fiscal year.
Toro Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.70%. The ex-dividend date was Monday, September 30th. Toro's payout ratio is currently 37.80%.
Wall Street Analyst Weigh In
TTC has been the subject of several recent analyst reports. 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. StockNews.com upgraded shares of Toro from a "hold" rating to a "buy" rating in a report on Monday, September 9th. Northland Securities restated 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 target 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $93.33.
Read Our Latest Stock Analysis on Toro
About Toro
(
Free Report)
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.
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