The Toro Company (NYSE:TTC) CEO Richard M. Olson Sells 20,000 Shares

The Toro Company (NYSE:TTC) CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction on Friday, June 21st. The shares were sold at an average price of $95.19, for a total value of $1,903,800.00. Following the transaction, the chief executive officer now owns 17,913 shares of the company’s stock, valued at approximately $1,705,138.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Toro Stock Down 0.6 %

TTC stock opened at $94.98 on Tuesday. The Toro Company has a 1-year low of $77.15 and a 1-year high of $106.68. The business has a fifty day moving average price of $88.27 and a 200-day moving average price of $90.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87. The stock has a market capitalization of $9.87 billion, a P/E ratio of 37.54 and a beta of 0.67.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, June 6th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Toro had a return on equity of 25.04% and a net margin of 6.00%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share. Equities analysts forecast that The Toro Company will post 4.33 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 18th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Tuesday, June 18th. Toro’s dividend payout ratio (DPR) is presently 56.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com cut Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Robert W. Baird lifted their price objective on Toro from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Finally, DA Davidson lifted their price objective on Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.75.

Institutional Trading of Toro

Several hedge funds have recently bought and sold shares of TTC. Orion Capital Management LLC purchased a new stake in Toro in the third quarter worth about $25,000. VisionPoint Advisory Group LLC increased its position in Toro by 135.9% in the third quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock worth $25,000 after buying an additional 174 shares in the last quarter. UMB Bank n.a. increased its position in Toro by 1,204.8% in the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after buying an additional 253 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in Toro in the fourth quarter worth about $26,000. Finally, Rise Advisors LLC increased its position in Toro by 2,057.1% in the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 288 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

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.