Toro Company (The) (NYSE:TTC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,103 shares of the company's stock after selling 12,700 shares during the period. New York State Teachers Retirement System owned 0.08% of Toro worth $6,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Toro by 7.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company's stock worth $38,882,000 after buying an additional 37,405 shares during the period. Achmea Investment Management B.V. purchased a new stake in shares of Toro in the first quarter worth approximately $1,222,000. Diversified Trust Co raised its holdings in shares of Toro by 14.1% in the first quarter. Diversified Trust Co now owns 28,098 shares of the company's stock worth $2,044,000 after buying an additional 3,467 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Toro by 65.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 12,674 shares of the company's stock worth $922,000 after buying an additional 5,012 shares during the period. Finally, Sylvest Advisors LLC purchased a new stake in shares of Toro in the first quarter worth approximately $514,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Trading Up 1.2%

NYSE:TTC traded up $0.92 during midday trading on Wednesday, hitting $75.25. The stock had a trading volume of 688,195 shares, compared to its average volume of 929,298. Toro Company has a one year low of $62.34 and a one year high of $100.93. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 19.29 and a beta of 0.81. The stock has a 50-day moving average of $72.79 and a 200 day moving average of $75.13. The company has a quick ratio of 0.79, a current ratio of 1.81 and a debt-to-equity ratio of 0.73.

Toro (NYSE:TTC - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. Toro's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 earnings per share. As a group, sell-side analysts forecast that Toro Company will post 4.41 EPS for the current year.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.02%. Toro's dividend payout ratio (DPR) is presently 38.97%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TTC shares. Northland Securities reiterated a "market perform" rating and issued a $80.00 price target (down from $100.00) on shares of Toro in a report on Friday, June 6th. Raymond James Financial reduced their price target on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, June 6th. Robert W. Baird increased 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. Wall Street Zen cut Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Finally, Northland Capmk cut Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Toro presently has an average rating of "Hold" and a consensus target price of $82.75.

Insider Buying and Selling at Toro

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

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.