Glenmede Trust Co. NA Has $371,000 Stake in The Toro Company (NYSE:TTC)

Glenmede Trust Co. NA increased its stake in shares of The Toro Company (NYSE:TTC) by 18.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,282 shares of the company’s stock after buying an additional 662 shares during the quarter. Glenmede Trust Co. NA’s holdings in Toro were worth $371,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position in Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after buying an additional 333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Toro by 850.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock worth $74,000 after buying an additional 765 shares in the last quarter. Fifth Third Bancorp grew its position in Toro by 22.4% during the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock worth $85,000 after buying an additional 166 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Toro during the second quarter worth approximately $94,000. Finally, CWM LLC grew its position in Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Toro Stock Up 0.3 %

Shares of TTC opened at $86.62 on Thursday. The Toro Company has a 52 week low of $77.15 and a 52 week high of $102.00. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 22.73 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The stock has a fifty day moving average of $84.02 and a 200-day moving average of $87.82.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s payout ratio is 37.80%.

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.