Headlands Technologies LLC Invests $461,000 in Toro Company (The) (NYSE:TTC)

Key Points

• Headlands Technologies LLC acquired 6,333 shares of Toro Company stock, valued at approximately $461,000, during the first quarter, highlighting growing institutional interest in the company.
• Analysts have issued revised price targets for Toro, with Northland Securities lowering its target to $80.00 and Robert W. Baird slightly increasing it to $85.00, indicating mixed sentiment on the stock's performance.
• Toro Company recently paid a $0.38 quarterly dividend, equating to an annualized yield of 2.1%, with a dividend payout ratio currently at 38.97%.

Headlands Technologies LLC bought a new position in shares of Toro Company (The) (NYSE:TTC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,333 shares of the company's stock, valued at approximately $461,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC lifted its holdings in Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after buying an additional 206 shares during the last quarter. Financial Harvest LLC bought a new position in Toro during the 1st quarter worth approximately $42,000. Allworth Financial LP boosted its holdings in shares of Toro by 91.6% in the 1st quarter. Allworth Financial LP now owns 663 shares of the company's stock valued at $46,000 after buying an additional 317 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Toro by 81.2% in the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock valued at $63,000 after buying an additional 389 shares during the period. Finally, iA Global Asset Management Inc. bought a new position in Toro during the 1st quarter worth $82,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. DA Davidson set a $76.00 price objective on shares of Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Raymond James Financial cut their target price on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. Northland Securities restated a "market perform" rating and set a $80.00 price objective (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Finally, Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $82.75.

Insider Activity at Toro

In other news, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following the completion of the transaction, the vice president directly owned 11,646 shares in the company, valued at $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary Lee Ellis sold 5,038 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the transaction, the director directly owned 34,062 shares in the company, valued at approximately $2,411,930.22. This trade represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

Toro Trading Down 0.4%

NYSE:TTC traded down $0.30 during mid-day trading on Monday, hitting $73.47. The company had a trading volume of 603,403 shares, compared to its average volume of 965,801. The business's fifty day moving average is $72.82 and its two-hundred day moving average is $73.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81. The firm has a market cap of $7.25 billion, a P/E ratio of 18.84 and a beta of 0.80. Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $93.00.

Toro (NYSE:TTC - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. Toro had a net margin of 8.77% and a return on equity of 27.99%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts expect that Toro Company will post 4.41 earnings per share for the current year.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.52 annualized dividend and a dividend yield of 2.1%. Toro's dividend payout ratio is currently 38.97%.

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.