Point72 Hong Kong Ltd Cuts Position in The Toro Company (NYSE:TTC)

Point72 Hong Kong Ltd reduced its holdings in shares of The Toro Company (NYSE:TTC) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,520 shares of the company’s stock after selling 1,053 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Toro were worth $2,213,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TTC. Speece Thorson Capital Group Inc. lifted its holdings in shares of Toro by 24.5% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 144,438 shares of the company’s stock valued at $12,527,000 after acquiring an additional 28,453 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Toro by 3.0% in the second quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock worth $30,396,000 after buying an additional 9,371 shares during the period. Atria Investments Inc acquired a new stake in shares of Toro in the first quarter valued at about $1,139,000. Raymond James & Associates raised its holdings in shares of Toro by 5.7% during the 3rd quarter. Raymond James & Associates now owns 278,700 shares of the company’s stock valued at $24,172,000 after buying an additional 14,950 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Toro by 5.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 200,456 shares of the company’s stock worth $17,386,000 after acquiring an additional 9,998 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Up 0.2 %

TTC stock opened at $87.08 on Monday. 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 50 day simple moving average of $84.00 and a 200-day simple moving average of $87.85. The company has a market capitalization of $8.94 billion, a P/E ratio of 22.86 and a beta of 0.69. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 8.89% and a return on equity of 25.94%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. On average, equities research analysts predict that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Monday, September 30th. Toro’s dividend payout ratio is presently 37.80%.

Analyst Ratings Changes

Several brokerages have issued reports on TTC. Robert W. Baird lowered their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. DA Davidson cut their price objective on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, Northland Securities restated a “market perform” rating and set a $100.00 target price on shares of Toro in a research note 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $93.33.

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.