The Toro Company (NYSE:TTC) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,900 shares of the company's stock after selling 19,000 shares during the quarter. Swiss National Bank owned about 0.29% of Toro worth $23,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TTC. PEAK6 Investments LLC purchased a new stake in shares of Toro in the third quarter worth about $1,248,000. Benjamin Edwards Inc. boosted its position in shares of Toro by 6,995.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 74,005 shares of the company's stock valued at $6,418,000 after acquiring an additional 72,962 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Toro in the third quarter valued at $1,261,000. Sumitomo Mitsui Trust Group Inc. increased its position in Toro by 5.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 200,456 shares of the company's stock worth $17,386,000 after purchasing an additional 9,998 shares during the last quarter. Finally, Point72 DIFC Ltd raised its stake in Toro by 101.6% during the third quarter. Point72 DIFC Ltd now owns 13,000 shares of the company's stock valued at $1,127,000 after purchasing an additional 6,550 shares in the last quarter. Institutional investors own 87.95% of the company's stock.

Toro Trading Up 0.0 %

NYSE:TTC traded up $0.03 during midday trading on Friday, hitting $73.09. The stock had a trading volume of 1,815,440 shares, compared to its average volume of 916,462. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $79.86 and a 200 day moving average of $82.51. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 18.23 and a beta of 0.70. The Toro Company has a one year low of $71.23 and a one year high of $100.93.

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Toro (NYSE:TTC - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, sell-side analysts forecast that The Toro Company will post 4.41 EPS for the current year.

Toro declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, March 31st. Toro's payout ratio is currently 38.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TTC. Northland Securities upgraded shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price on the stock in a research report on Monday, February 24th. StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a research report on Tuesday. Raymond James dropped their target price on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Finally, Robert W. Baird cut their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.75.

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.