The Toro Company (NYSE:TTC) Holdings Cut by Ballentine Partners LLC

Ballentine Partners LLC lowered its holdings in The Toro Company (NYSE:TTC) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,844 shares of the company’s stock after selling 164 shares during the period. Ballentine Partners LLC’s holdings in Toro were worth $247,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. UMB Bank n.a. increased its stake in shares of Toro by 112.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after purchasing an additional 333 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Toro in the first quarter valued at approximately $66,000. Covestor Ltd increased its stake 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 purchasing an additional 601 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Toro by 850.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after purchasing an additional 765 shares during the period. Finally, Fifth Third Bancorp increased 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 purchasing an additional 166 shares during the period. Institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TTC shares. Northland Securities restated a “market perform” rating and issued a $100.00 price target on shares of Toro in a research note on Friday, September 6th. DA Davidson lowered their price objective on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Finally, Robert W. Baird lowered their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.33.

Toro Price Performance

NYSE TTC opened at $81.10 on Wednesday. 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 firm has a market capitalization of $8.42 billion, a PE ratio of 32.06 and a beta of 0.68. The company’s 50 day simple moving average is $85.80 and its 200 day simple moving average is $88.47.

Toro (NYSE:TTC) last issued its 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 the consensus estimate of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share. As a group, equities research analysts forecast that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s payout ratio is 56.92%.

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.