Argent Trust Co Invests $368,000 in The Toro Company (NYSE:TTC)

Argent Trust Co purchased a new stake in shares of The Toro Company (NYSE:TTC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,939 shares of the company’s stock, valued at approximately $368,000.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. grew its stake in Toro by 1,204.8% during the 1st quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after acquiring an additional 253 shares in the last quarter. Rise Advisors LLC grew its position in Toro by 2,057.1% during the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 288 shares in the last quarter. Principal Securities Inc. purchased a new position in Toro during the fourth quarter valued at approximately $66,000. Covestor Ltd increased its stake in Toro by 522.6% in the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after buying an additional 601 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Toro in the 1st quarter worth approximately $66,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Stock Down 0.7 %

TTC stock opened at $84.91 on Friday. 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 firm has a market cap of $8.71 billion, a PE ratio of 33.56 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 fifty day simple moving average of $90.38 and a 200 day simple moving average of $89.36.

Toro (NYSE:TTC) last released its quarterly earnings results 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 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 business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. Sell-side analysts anticipate that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, September 30th. This represents a $1.44 annualized dividend and a yield of 1.70%. Toro’s dividend payout ratio (DPR) is presently 56.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Northland Securities restated a “market perform” rating and set a $100.00 price target on shares of Toro in a report on Friday, September 6th. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Robert W. Baird cut 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. Finally, DA Davidson reduced their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Toro presently has an average rating of “Hold” and a consensus price target 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.