Point72 Asia Singapore Pte. Ltd. Makes New $284,000 Investment in The Toro Company (NYSE:TTC)

Point72 Asia Singapore Pte. Ltd. bought a new stake in The Toro Company (NYSE:TTC) during the second quarter, HoldingsChannel.com reports. The fund bought 3,039 shares of the company’s stock, valued at approximately $284,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evoke Wealth LLC purchased a new position in Toro in the fourth quarter valued at about $2,479,000. Vanguard Group Inc. raised its holdings in shares of Toro by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock valued at $1,007,070,000 after buying an additional 103,300 shares during the period. TD Asset Management Inc lifted its position in Toro by 334.2% during the 4th quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock worth $78,545,000 after acquiring an additional 629,820 shares in the last quarter. Cim LLC acquired a new position in Toro during the 4th quarter worth approximately $12,882,000. Finally, Boston Trust Walden Corp boosted its holdings in Toro by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock worth $30,396,000 after acquiring an additional 9,371 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Trading Up 0.8 %

TTC opened at $86.63 on Friday. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The stock has a market capitalization of $8.89 billion, a PE ratio of 34.24 and a beta of 0.69. The firm’s fifty day moving average price is $89.46 and its 200 day moving average price is $89.23.

Toro (NYSE:TTC) last issued its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $1.16 billion during 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 business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. As a group, research analysts expect that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.36 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.66%. Toro’s payout ratio is 56.92%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Northland Securities reissued a “market perform” rating and set a $100.00 target price on shares of Toro in a research report on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. DA Davidson lowered their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Robert W. Baird cut their price target on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.