Deutsche Bank AG Cuts Position in Toro Company (The) $TTC

Key Points

• Deutsche Bank AG significantly reduced its stake in Toro Company by 91.9%, holding only 11,330 shares after selling 129,070.
• Several large investors increased their positions in Toro, with True Wealth Design LLC boosting its stake by 127.2%.
• Toro's recent earnings report showed EPS of $1.42, slightly above analysts' estimates, but revenue dropped 2.3% year-over-year.

Deutsche Bank AG lessened its holdings in Toro Company (The) (NYSE:TTC - Free Report) by 91.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,330 shares of the company's stock after selling 129,070 shares during the period. Deutsche Bank AG's holdings in Toro were worth $824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TTC. True Wealth Design LLC boosted its position in Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after buying an additional 206 shares during the period. Financial Harvest LLC purchased a new position in Toro in the first quarter worth approximately $42,000. Allworth Financial LP lifted its stake in Toro by 91.6% in the first quarter. Allworth Financial LP now owns 663 shares of the company's stock worth $46,000 after acquiring an additional 317 shares during the last quarter. Versant Capital Management Inc lifted its stake 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 during the last quarter. Finally, iA Global Asset Management Inc. purchased a new position in Toro in the first quarter worth approximately $82,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TTC shares. Raymond James Financial decreased their price target on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Longbow Research raised Toro from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Monday. Northland Securities reaffirmed a "market perform" rating and set a $80.00 price target (down from $100.00) on shares of Toro in a report on Friday, June 6th. Robert W. Baird lifted their price target on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Finally, DA Davidson raised Toro from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $76.00 to $93.00 in a report on Monday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Toro presently has an average rating of "Moderate Buy" and a consensus price target of $89.60.

Toro Stock Performance

Shares of NYSE:TTC traded down $0.98 on Friday, reaching $81.02. The company's stock had a trading volume of 1,130,950 shares, compared to its average volume of 952,881. The stock's 50-day moving average is $74.82 and its two-hundred day moving average is $73.64. Toro Company has a 52-week low of $62.34 and a 52-week high of $93.00. 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 stock has a market capitalization of $8.00 billion, a P/E ratio of 20.77 and a beta of 0.80.

Toro (NYSE:TTC - Get Free Report) last announced its 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. 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 period in the prior year, the company earned $1.40 earnings per share. The business'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. As a group, sell-side analysts forecast that Toro Company will post 4.41 EPS for the current year.

Insider Transactions at Toro

In other news, VP Kurt D. Svendsen sold 6,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the sale, the vice president directly owned 11,646 shares of the company's stock, valued at approximately $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of Toro stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total transaction of $356,740.78. Following the completion of the sale, the director directly owned 34,062 shares in the company, valued at approximately $2,411,930.22. The trade was a 12.88% 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 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.