Federated Hermes Inc. Has $891,000 Position in The Toro Company (NYSE:TTC)

Federated Hermes Inc. lessened its stake in The Toro Company (NYSE:TTC) by 3.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,530 shares of the company’s stock after selling 370 shares during the period. Federated Hermes Inc.’s holdings in Toro were worth $891,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TTC. UMB Bank n.a. boosted its position in shares of 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 stake in shares of Toro by 2,057.1% in the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 288 shares during the period. Headlands Technologies LLC acquired a new position in shares of Toro in the 1st quarter worth approximately $66,000. Covestor Ltd grew its position in Toro by 522.6% in the first quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after acquiring an additional 601 shares during the period. Finally, Riverview Trust Co acquired a new position in Toro during the first quarter worth $72,000. 87.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Robert W. Baird reduced their target price 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. DA Davidson reduced their target price on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Northland Securities reissued a “market perform” rating and set a $100.00 price objective on shares of Toro in a report on Friday, September 6th. Finally, StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research note 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, the stock has an average rating of “Hold” and a consensus target price of $93.33.

Toro Price Performance

Toro stock opened at $84.90 on Monday. The business’s 50-day simple moving average is $90.38 and its 200 day simple moving average is $89.31. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 33.56 and a beta of 0.69. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00.

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

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is 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.