Northern Trust Corp Has $69.79 Million Position in Toro Company (The) $TTC

Key Points

• Northern Trust Corp reduced its stake in Toro Company by 11.3%, selling 122,521 shares to hold 959,261 shares, valued at approximately $69.8 million.
• Several institutional investors increased their holdings significantly, with True Wealth Design LLC raising theirs by 127.2% in the fourth quarter.
• Toro Company reported a quarterly earnings per share of $1.42, beating estimates but showing a 2.3% decline in revenue year-over-year, with future EPS guidance set at $4.150-$4.300.

Northern Trust Corp cut its holdings in Toro Company (The) (NYSE:TTC - Free Report) by 11.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 959,261 shares of the company's stock after selling 122,521 shares during the period. Northern Trust Corp owned about 0.96% of Toro worth $69,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTC. Dimensional Fund Advisors LP raised its holdings in shares of Toro by 17.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock valued at $88,152,000 after purchasing an additional 164,069 shares during the last quarter. MML Investors Services LLC increased its holdings in Toro by 5.5% during the fourth quarter. MML Investors Services LLC now owns 24,196 shares of the company's stock worth $1,938,000 after buying an additional 1,261 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Toro by 136.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,116 shares of the company's stock worth $490,000 after buying an additional 3,529 shares during the last quarter. IHT Wealth Management LLC increased its holdings in Toro by 7.9% during the fourth quarter. IHT Wealth Management LLC now owns 3,287 shares of the company's stock worth $263,000 after buying an additional 240 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Toro by 95.2% during the fourth quarter. Hsbc Holdings PLC now owns 76,085 shares of the company's stock worth $6,109,000 after buying an additional 37,107 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Toro

In other 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 completion of the transaction, the director owned 34,062 shares of the company's stock, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kurt D. Svendsen sold 6,000 shares of the 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 completion of the transaction, the vice president directly owned 11,646 shares of the company's stock, 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 currently owned by corporate insiders.

Toro Price Performance

TTC traded down $0.98 on Friday, hitting $81.02. 1,130,950 shares of the stock were exchanged, compared to its average volume of 952,881. Toro Company has a 12 month low of $62.34 and a 12 month high of $93.00. The business has a 50-day moving average of $74.82 and a two-hundred day moving average of $73.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.81 and a quick ratio of 0.79. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 20.77 and a beta of 0.80.

Toro (NYSE:TTC - Get Free Report) last posted its quarterly earnings data 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 net margin of 8.77% and a return on equity of 27.99%. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. Toro's revenue was down 2.3% compared to the same quarter last year. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. Sell-side analysts forecast that Toro Company will post 4.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TTC shares. DA Davidson upgraded shares of Toro from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $76.00 to $93.00 in a report on Monday. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday. Raymond James Financial lowered 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 boosted their target price on shares of Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Finally, Northland Securities restated 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. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.60.

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.