Scientech Research LLC Takes Position in The Toro Company (NYSE:TTC)

Scientech Research LLC purchased a new stake in shares of The Toro Company (NYSE:TTC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,236 shares of the company’s stock, valued at approximately $1,705,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTC. UMB Bank n.a. increased its position in Toro by 1,204.8% during the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after acquiring an additional 253 shares during the last quarter. Rise Advisors LLC increased 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 acquiring an additional 288 shares during the last quarter. Covestor Ltd increased its position in Toro by 522.6% during 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 last quarter. Headlands Technologies LLC purchased a new stake in Toro during the first quarter valued at $66,000. Finally, Riverview Trust Co purchased a new stake in Toro during the first quarter valued at $72,000. 87.95% of the stock is owned by institutional investors.

Toro Trading Up 0.8 %

Shares of Toro stock opened at $86.63 on Friday. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. 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 company has a market capitalization of $8.89 billion, a P/E ratio of 34.24 and a beta of 0.69. The company has a fifty day moving average of $89.46 and a 200 day moving average of $89.23.

Toro (NYSE:TTC) last released its quarterly earnings data 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 during 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% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. On average, sell-side analysts anticipate that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The business also recently disclosed 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. This represents a $1.44 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Monday, September 30th. Toro’s dividend payout ratio (DPR) is currently 56.92%.

Analyst Ratings Changes

A number of analysts recently commented on TTC shares. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Robert W. Baird reduced their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. DA Davidson reduced their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.