The Toro Company (NYSE:TTC) Holdings Decreased by Bridgewater Associates LP

Bridgewater Associates LP cut its position in shares of The Toro Company (NYSE:TTC) by 12.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,445 shares of the company’s stock after selling 1,074 shares during the quarter. Bridgewater Associates LP’s holdings in Toro were worth $646,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TTC. B. Riley Wealth Advisors Inc. lifted its stake in Toro by 28.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,096 shares of the company’s stock valued at $284,000 after buying an additional 679 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Toro by 19.1% in the first quarter. Tidal Investments LLC now owns 10,671 shares of the company’s stock valued at $978,000 after purchasing an additional 1,709 shares during the period. Atria Investments Inc acquired a new position in Toro during the 1st quarter worth $1,139,000. GAMMA Investing LLC increased its holdings in shares of Toro by 635.5% during the second quarter. GAMMA Investing LLC now owns 2,898 shares of the company’s stock valued at $271,000 after purchasing an additional 2,504 shares during the period. Finally, DNB Asset Management AS lifted its stake in shares of Toro by 14.1% in the 2nd quarter. DNB Asset Management AS now owns 25,962 shares of the company’s stock worth $2,428,000 after acquiring an additional 3,201 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird decreased their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. DA Davidson dropped their price target on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Finally, Northland Securities restated a “market perform” rating and set a $100.00 target price on shares of Toro in a report on Friday, September 6th. Three 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $93.33.

Toro Price Performance

NYSE TTC opened at $86.47 on Tuesday. The company has a market cap of $8.87 billion, a P/E ratio of 22.70 and a beta of 0.69. The Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $84.01 and a 200 day simple moving average of $87.84.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 25.94% and a net margin of 8.89%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. On average, sell-side analysts predict that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.36 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.67%. Toro’s dividend payout ratio is currently 37.80%.

Toro Company 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.