Bank of New York Mellon Corp Has $75.41 Million Holdings in Toro Company (The) (NYSE:TTC)

Bank of New York Mellon Corp cut its stake in shares of Toro Company (The) (NYSE:TTC - Free Report) by 12.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,036,492 shares of the company's stock after selling 151,058 shares during the period. Bank of New York Mellon Corp owned approximately 1.04% of Toro worth $75,405,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Toro by 45.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock worth $563,207,000 after purchasing an additional 2,199,920 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Toro by 17.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock worth $88,152,000 after acquiring an additional 164,069 shares in the last quarter. Northern Trust Corp lifted its holdings in Toro by 36.9% during the fourth quarter. Northern Trust Corp now owns 1,081,782 shares of the company's stock worth $86,651,000 after acquiring an additional 291,593 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in Toro by 9.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,024,721 shares of the company's stock worth $82,080,000 after acquiring an additional 87,926 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in Toro by 133.3% during the first quarter. Boston Trust Walden Corp now owns 779,419 shares of the company's stock worth $56,703,000 after acquiring an additional 445,287 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Kurt D. Svendsen sold 6,000 shares of the company'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 sale, the vice president owned 11,646 shares in the company, valued at approximately $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

TTC has been the topic of several recent analyst reports. Northland Capmk lowered Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Robert W. Baird lifted their target price on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Wall Street Zen lowered Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Northland Securities reiterated a "market perform" rating and set a $80.00 target price (down from $100.00) on shares of Toro in a report on Friday, June 6th. Finally, DA Davidson set a $76.00 price target on Toro and gave the company a "neutral" rating in a report on Monday, June 9th. 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, the company currently has a consensus rating of "Hold" and a consensus price target of $82.75.

Toro Stock Down 1.1%

Shares of Toro stock traded down $0.85 during trading on Friday, reaching $75.09. The stock had a trading volume of 662,797 shares, compared to its average volume of 925,857. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 19.25 and a beta of 0.81. The stock has a fifty day moving average price of $73.01 and a two-hundred day moving average price of $74.97. Toro Company has a 52 week low of $62.34 and a 52 week high of $100.93. 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 issued its quarterly earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Toro had a return on equity of 27.99% and a net margin of 8.77%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 earnings per share. Sell-side analysts predict that Toro Company will post 4.41 EPS for the current fiscal year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, June 17th were issued a dividend of $0.38 per share. The ex-dividend date was Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.02%. Toro's payout ratio is presently 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.