JPMorgan Chase & Co. Has $97.01 Million Holdings in The Toro Company (NYSE:TTC)

JPMorgan Chase & Co. reduced its stake in The Toro Company (NYSE:TTC - Free Report) by 15.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,118,509 shares of the company's stock after selling 205,137 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.11% of Toro worth $97,008,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TTC. Arizona State Retirement System increased its stake in shares of Toro by 0.4% in the second quarter. Arizona State Retirement System now owns 28,680 shares of the company's stock worth $2,682,000 after purchasing an additional 110 shares during the period. Lindenwold Advisors INC lifted its holdings in shares of Toro by 2.8% during the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company's stock worth $400,000 after buying an additional 125 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Toro by 1.4% in the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company's stock valued at $941,000 after acquiring an additional 136 shares during the period. CWM LLC grew its stake in shares of Toro by 15.5% in the third quarter. CWM LLC now owns 1,063 shares of the company's stock worth $92,000 after acquiring an additional 143 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC increased its position in Toro by 1.0% during the third quarter. Taylor Frigon Capital Management LLC now owns 15,201 shares of the company's stock worth $1,318,000 after acquiring an additional 146 shares during the period. Institutional investors own 87.95% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TTC. StockNews.com raised shares of Toro from a "hold" rating to a "buy" rating in a report on Monday, September 9th. DA Davidson lowered their price target on Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a research note on Monday, September 9th. Northland Securities reiterated a "market perform" rating and issued a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. Raymond James lowered their price objective on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th. Finally, Robert W. Baird reduced their target price on Toro from $102.00 to $92.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $93.75.

Toro Price Performance

Shares of TTC stock traded up $1.06 during trading hours on Friday, hitting $80.13. The company had a trading volume of 649,198 shares, compared to its average volume of 692,949. The Toro Company has a 12 month low of $77.15 and a 12 month high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The firm's fifty day moving average is $83.62 and its 200 day moving average is $87.22. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 21.03 and a beta of 0.70.

Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Toro had a return on equity of 25.94% and a net margin of 8.89%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company posted $0.71 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.90%. This is a boost from Toro's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, December 23rd. Toro's dividend payout ratio is currently 37.91%.

Toro declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

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.