Y Intercept Hong Kong Ltd Takes Position in Toro Company (The) (NYSE:TTC)

Y Intercept Hong Kong Ltd bought a new position in shares of Toro Company (The) (NYSE:TTC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 39,823 shares of the company's stock, valued at approximately $2,897,000.

Other large investors have also recently added to or reduced their stakes in the company. Gallacher Capital Management LLC acquired a new position in Toro during the 1st quarter worth approximately $597,000. South Dakota Investment Council acquired a new position in Toro during the 1st quarter worth approximately $371,000. Financial Harvest LLC acquired a new position in Toro during the 1st quarter worth approximately $42,000. Apollon Wealth Management LLC grew its holdings in Toro by 10.5% during the 1st quarter. Apollon Wealth Management LLC now owns 10,942 shares of the company's stock worth $796,000 after acquiring an additional 1,042 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in Toro by 13.2% during the 1st quarter. Bleakley Financial Group LLC now owns 11,378 shares of the company's stock worth $828,000 after acquiring an additional 1,326 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TTC shares. Robert W. Baird upped their target price on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Raymond James Financial lowered their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, June 6th. DA Davidson set a $76.00 target price on shares of Toro and gave the company a "neutral" rating in a report on Monday, June 9th. Northland Securities restated a "market perform" rating and issued a $80.00 target price (down previously from $100.00) on shares of Toro in a report on Friday, June 6th. Finally, Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $82.75.

Toro Stock Performance

NYSE:TTC traded up $0.68 during trading hours on Friday, reaching $75.36. 351,594 shares of the company's stock were exchanged, compared to its average volume of 638,499. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 19.32 and a beta of 0.81. The company has a 50-day moving average of $73.11 and a 200 day moving average of $74.61. The company has a quick ratio of 0.79, a current ratio of 1.81 and a debt-to-equity ratio of 0.73. Toro Company has a 1-year low of $62.34 and a 1-year high of $98.61.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates 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%. Toro's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 EPS. Research analysts anticipate that Toro Company will post 4.41 EPS for the current year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th were given a dividend of $0.38 per share. The ex-dividend date was Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a yield of 2.02%. Toro's payout ratio is currently 38.97%.

Insiders Place Their Bets

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the company's stock in a transaction on 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 transaction, the director owned 34,062 shares in the company, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their position. The sale was disclosed in a 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 company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total transaction of $425,940.00. Following the transaction, the vice president owned 11,646 shares of the company's stock, valued at approximately $826,749.54. The trade was 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 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.