Bank of New York Mellon Corp Sells 151,058 Shares of 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% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor 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 about 1.04% of Toro worth $75,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in Toro by 127.2% in the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after acquiring an additional 206 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after acquiring an additional 127 shares in the last quarter. Versant Capital Management Inc grew its position in Toro by 81.2% in the first 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. Covestor Ltd grew its position in Toro by 60.5% in the fourth quarter. Covestor Ltd now owns 1,181 shares of the company's stock worth $95,000 after acquiring an additional 445 shares in the last quarter. Finally, Siemens Fonds Invest GmbH bought a new stake in Toro in the fourth quarter worth approximately $138,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on TTC shares. Raymond James Financial decreased their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. Robert W. Baird boosted their target price on shares of Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, DA Davidson set a $76.00 price objective on shares of Toro and gave the stock a "neutral" rating in a research note on Monday, June 9th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Toro presently has an average rating of "Hold" and an average price target of $82.75.

Toro Stock Performance

Shares of Toro stock traded down $1.23 on Monday, reaching $73.76. The stock had a trading volume of 834,953 shares, compared to its average volume of 1,023,372. The business's 50-day moving average price is $73.01 and its two-hundred day moving average price is $74.97. 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 Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The stock has a market cap of $7.28 billion, a P/E ratio of 18.91 and a beta of 0.81.

Toro (NYSE:TTC - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.40 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.35 billion. Toro had a net margin of 8.77% and a return on equity of 27.99%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. On average, 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 was paid on Friday, July 11th. Investors of record on Tuesday, June 17th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, June 17th. Toro's payout ratio is currently 38.97%.

Insider Buying and Selling at Toro

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the business's 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 owned 34,062 shares of the company's stock, valued at $2,411,930.22. The trade was a 12.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kurt D. Svendsen sold 6,000 shares of the business's stock in a transaction 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 completion of the sale, the vice president directly owned 11,646 shares in the company, valued at $826,749.54. This trade represents a 34.00% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

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.