Swiss National Bank Has $14.27 Million Stake in Toro Company (The) (NYSE:TTC)

Swiss National Bank cut its position in Toro Company (The) (NYSE:TTC - Free Report) by 32.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,100 shares of the company's stock after selling 93,800 shares during the quarter. Swiss National Bank owned about 0.20% of Toro worth $14,266,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TTC. Raymond James Financial Inc. bought a new stake in Toro in the 4th quarter valued at $36,561,000. Capital Fund Management S.A. acquired a new position in Toro in the 4th quarter valued at $1,507,000. Sterling Capital Management LLC raised its holdings in Toro by 55.4% in the 4th quarter. Sterling Capital Management LLC now owns 6,188 shares of the company's stock valued at $496,000 after acquiring an additional 2,207 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in Toro by 6.6% in the 4th quarter. Evergreen Capital Management LLC now owns 8,807 shares of the company's stock valued at $708,000 after acquiring an additional 545 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Toro by 125.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,800 shares of the company's stock valued at $144,000 after acquiring an additional 1,000 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.

Insider Activity

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

Toro Price Performance

Toro stock traded down $1.12 during midday trading on Friday, reaching $76.91. The company's stock had a trading volume of 862,022 shares, compared to its average volume of 646,846. Toro Company has a 52 week low of $62.34 and a 52 week high of $93.00. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $73.08 and a 200-day moving average price of $73.71. The stock has a market cap of $7.59 billion, a PE ratio of 19.72 and a beta of 0.80.

Toro (NYSE:TTC - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. Toro had a return on equity of 27.99% and a net margin of 8.77%. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the business posted $1.40 earnings per share. The business's revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts predict that Toro Company will post 4.41 EPS for the current year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, June 17th. Toro's payout ratio is 38.97%.

Analyst Ratings Changes

Several brokerages have weighed in on TTC. Raymond James Financial dropped their price objective on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, June 6th. DA Davidson set a $76.00 price objective on Toro and gave the company a "neutral" rating in a report on Monday, June 9th. Robert W. Baird lifted their price objective on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Northland Securities reaffirmed a "market perform" rating and issued a $80.00 price objective (down from $100.00) on shares of Toro in a 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 issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $82.75.

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.