Toro Company (The) (NYSE:TTC) Holdings Cut by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in shares of Toro Company (The) (NYSE:TTC - Free Report) by 88.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 560 shares of the company's stock after selling 4,157 shares during the period. Fifth Third Bancorp's holdings in Toro were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Toro by 30.2% during the fourth 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 in the last quarter. Venturi Wealth Management LLC raised its holdings in Toro by 195.7% during the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock valued at $44,000 after buying an additional 362 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Toro by 81.2% during the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock worth $63,000 after acquiring an additional 389 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after acquiring an additional 285 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Toro

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total value of $356,740.78. Following the transaction, the director now directly owns 34,062 shares of the company's stock, valued at $2,411,930.22. This represents a 12.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.39% of the company's stock.

Toro Price Performance

Shares of TTC opened at $69.45 on Friday. The stock's 50-day moving average price is $71.48 and its two-hundred day moving average price is $76.23. Toro Company has a 1 year low of $62.34 and a 1 year high of $100.93. The stock has a market cap of $6.85 billion, a P/E ratio of 17.81 and a beta of 0.83. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73.

Toro (NYSE:TTC - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.35 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts predict that Toro Company will post 4.41 earnings per share for the current year.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, June 17th. Toro's dividend payout ratio is currently 38.97%.

Analyst Ratings Changes

A number of research firms have recently commented on TTC. Northland Securities reissued a "market perform" rating and issued a $80.00 price target (down previously from $100.00) on shares of Toro in a research report on Friday, June 6th. Northland Capmk downgraded shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Raymond James Financial dropped their target price on shares of 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 lifted 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. Finally, DA Davidson set a $76.00 price objective on Toro and gave the stock a "neutral" rating in a research note on Monday, June 9th. 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.com, the company presently has an average rating of "Hold" and a consensus price target of $82.75.

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.

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