The Toro Company (NYSE:TTC) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in The Toro Company (NYSE:TTC) by 1.1% during the 3rd quarter, Holdings Channel reports. The fund owned 10,907 shares of the company’s stock after selling 124 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Toro were worth $946,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Toro by 350.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,258 shares of the company’s stock valued at $115,000 after buying an additional 979 shares during the last quarter. Vanguard Group Inc. increased its holdings in Toro by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock valued at $968,083,000 after buying an additional 73,719 shares during the last quarter. Covestor Ltd increased its holdings 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 buying an additional 601 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Toro by 114.3% in the first quarter. UniSuper Management Pty Ltd now owns 1,500 shares of the company’s stock valued at $137,000 after buying an additional 800 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Toro by 3.9% in the first quarter. Bessemer Group Inc. now owns 9,645 shares of the company’s stock valued at $883,000 after buying an additional 359 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TTC shares. Northland Securities reissued a “market perform” rating and issued a $100.00 target price on shares of Toro in a report on Friday, September 6th. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. DA Davidson dropped their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, Robert W. Baird dropped their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Stock Performance

Shares of TTC stock opened at $81.82 on Tuesday. The stock’s 50-day moving average is $83.87 and its two-hundred day moving average is $88.14. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 21.44 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 debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.

Toro (NYSE:TTC) last issued 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). Toro had a return on equity of 25.94% and a net margin of 8.89%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted $0.95 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts predict that The Toro Company will post 4.16 earnings per share for the current year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.76%. Toro’s dividend payout ratio (DPR) is 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.