ING Groep NV Takes Position in Toro Company (The) (NYSE:TTC)

Key Points

• ING Groep NV has acquired a new position in Toro Company, purchasing 15,700 shares valued at approximately $1,142,000 during the first quarter of the year.
• Several institutional investors have significantly increased their stakes in Toro, with True Wealth Design LLC reporting a 127.2% boost in holdings.
• Toro announced a quarterly dividend of $0.38 per share, representing a yield of 2.1%, and has a current dividend payout ratio of 38.97%.

ING Groep NV bought a new position in Toro Company (The) (NYSE:TTC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,700 shares of the company's stock, valued at approximately $1,142,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in shares of Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after buying an additional 206 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock valued at $43,000 after buying an additional 127 shares during the period. Financial Harvest LLC acquired a new position in shares of Toro in the 1st quarter valued at about $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. Finally, Versant Capital Management Inc boosted its stake in Toro by 81.2% during the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock valued at $63,000 after purchasing an additional 389 shares during the period. Institutional investors own 87.95% of the company's stock.

Insider Activity at Toro

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

Analysts Set New Price Targets

TTC has been the subject of a number of analyst reports. Robert W. Baird boosted their target price on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. DA Davidson set a $76.00 target price on shares of Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Northland Securities reissued a "market perform" rating and set a $80.00 target price (down from $100.00) on shares of Toro in a research note on Friday, June 6th. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Raymond James Financial reduced their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $82.75.

Toro Price Performance

Shares of NYSE:TTC traded up $0.34 during trading on Friday, reaching $73.78. The company had a trading volume of 558,467 shares, compared to its average volume of 586,028. The firm's fifty day moving average is $72.84 and its 200 day moving average is $74.13. The firm has a market capitalization of $7.28 billion, a PE ratio of 18.92 and a beta of 0.80. Toro Company has a twelve month low of $62.34 and a twelve month high of $93.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly 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. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.35 billion. Toro had a net margin of 8.77% and a return on equity of 27.99%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 EPS. On average, equities analysts forecast that Toro Company will post 4.41 EPS for the current year.

Toro Announces Dividend

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

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.