Bank of New York Mellon Corp Cuts Stock Holdings in The Toro Company (NYSE:TTC)

Bank of New York Mellon Corp lowered its position in shares of The Toro Company (NYSE:TTC) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,218,111 shares of the company’s stock after selling 29,297 shares during the quarter. Bank of New York Mellon Corp’s holdings in Toro were worth $113,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TTC. &PARTNERS purchased a new position in Toro in the 2nd quarter valued at $308,000. Lecap Asset Management Ltd. purchased a new stake in Toro during the 2nd quarter valued at about $707,000. Fifth Third Wealth Advisors LLC acquired a new stake in Toro in the 2nd quarter valued at about $305,000. Fifth Third Bancorp lifted its stake in Toro by 22.4% in the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock worth $85,000 after purchasing an additional 166 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Toro during the 2nd quarter worth approximately $2,532,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird increased their price target on Toro from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Toro currently has a consensus rating of “Hold” and a consensus target price of $98.75.

Insider Transactions at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 17,913 shares in the company, valued at approximately $1,705,138.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.62% of the company’s stock.

Toro Trading Up 0.3 %

Shares of Toro stock opened at $90.62 on Wednesday. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $104.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.93. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 35.82 and a beta of 0.69. The stock has a 50 day moving average of $92.29 and a 200 day moving average of $90.24.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, June 6th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. Toro had a return on equity of 25.04% and a net margin of 6.00%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company earned $1.58 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, research analysts predict that The Toro Company will post 4.32 earnings per share for the current year.

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.