Raymond James & Associates Has $24.17 Million Stock Position in The Toro Company (NYSE:TTC)

Raymond James & Associates increased its position in The Toro Company (NYSE:TTC - Free Report) by 5.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 278,700 shares of the company's stock after purchasing an additional 14,950 shares during the period. Raymond James & Associates owned about 0.27% of Toro worth $24,172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Toro by 112.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company's stock valued at $55,000 after acquiring an additional 333 shares in the last quarter. Covestor Ltd boosted its position in shares of Toro by 522.6% in the first quarter. Covestor Ltd now owns 716 shares of the company's stock valued at $66,000 after acquiring an additional 601 shares during the period. Headlands Technologies LLC bought a new position in shares of Toro during the 1st quarter worth about $66,000. Fifth Third Bancorp lifted its stake in shares of Toro by 22.4% in the second quarter. Fifth Third Bancorp now owns 908 shares of the company's stock valued at $85,000 after buying an additional 166 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in Toro during the second quarter worth about $94,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Price Performance

Shares of NYSE TTC traded down $0.39 during midday trading on Friday, reaching $81.70. 617,511 shares of the company traded hands, compared to its average volume of 886,059. The stock's 50-day simple moving average is $86.11 and its 200-day simple moving average is $88.53. 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 Toro Company has a 12 month low of $77.15 and a 12 month high of $102.00. The firm has a market cap of $8.49 billion, a PE ratio of 32.45 and a beta of 0.68.

Toro (NYSE:TTC - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, equities analysts anticipate that The Toro Company will post 4.16 earnings per share 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 paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, September 30th. Toro's dividend payout ratio is presently 56.92%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TTC shares. DA Davidson lowered their price objective on Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday, September 9th. Robert W. Baird dropped their price objective on shares of Toro from $102.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. StockNews.com upgraded shares of Toro from a "hold" rating to a "buy" rating in a research report on Monday, September 9th. Finally, Northland Securities restated a "market perform" rating and set a $100.00 price target on shares of Toro in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Toro has an average rating of "Hold" and a consensus target price of $93.33.

Toro Company 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.