Inspire Investing LLC Cuts Stock Position in The Toro Company (NYSE:TTC)

Inspire Investing LLC lessened its position in shares of The Toro Company (NYSE:TTC - Free Report) by 80.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,287 shares of the company's stock after selling 13,853 shares during the quarter. Inspire Investing LLC's holdings in Toro were worth $285,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Toro by 112.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company's stock worth $55,000 after acquiring an additional 333 shares in the last quarter. CWM LLC grew its stake in Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company's stock worth $92,000 after purchasing an additional 143 shares during the period. Diversified Trust Co increased its holdings in Toro by 80.9% in the third quarter. Diversified Trust Co now owns 14,248 shares of the company's stock worth $1,236,000 after purchasing an additional 6,371 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Toro by 5.9% in the third quarter. Handelsbanken Fonder AB now owns 19,839 shares of the company's stock valued at $1,721,000 after buying an additional 1,100 shares during the period. Finally, JLB & Associates Inc. boosted its holdings in shares of Toro by 0.7% during the 3rd quarter. JLB & Associates Inc. now owns 183,606 shares of the company's stock worth $15,924,000 after buying an additional 1,282 shares in the last quarter. Institutional investors own 87.95% of the company's stock.

Toro Stock Down 0.2 %

TTC traded down $0.17 during trading on Friday, hitting $83.89. 639,002 shares of the company's stock were exchanged, compared to its average volume of 913,668. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The stock has a market cap of $8.61 billion, a P/E ratio of 22.02 and a beta of 0.68. The business's 50 day moving average is $86.61 and its two-hundred day moving average is $88.69. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59.

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

Toro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors 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 1.72%. Toro's dividend payout ratio (DPR) is currently 37.80%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TTC. Northland Securities reiterated a "market perform" rating and issued a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. DA Davidson dropped their price objective on shares of Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, September 9th. StockNews.com raised shares of Toro from a "hold" rating to a "buy" rating in a research report on Monday, September 9th. Finally, Robert W. Baird decreased 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 one has issued a buy rating to the company. Based on data from MarketBeat.com, Toro presently has a consensus rating of "Hold" and an average price target of $93.33.

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.