Insider Selling: Toro Company (The) (NYSE:TTC) VP Sells 6,000 Shares of Stock

Toro Company (The) (NYSE:TTC - Get Free Report) VP Kurt D. Svendsen sold 6,000 shares of Toro 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 now owns 11,646 shares of the company's stock, valued at $826,749.54. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Toro Stock Performance

NYSE TTC traded down $0.63 during mid-day trading on Friday, reaching $70.33. 258,137 shares of the stock were exchanged, compared to its average volume of 937,136. The company has a market capitalization of $6.94 billion, a P/E ratio of 18.01 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81. The business's 50 day moving average is $71.74 and its 200-day moving average is $75.86. Toro Company has a 1 year low of $62.34 and a 1 year high of $100.93.

Toro (NYSE:TTC - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company posted $1.40 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that Toro Company will post 4.41 EPS for the current fiscal year.

Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, June 17th. Toro's payout ratio is 38.97%.

Institutional Investors Weigh In On Toro

A number of large investors have recently made changes to their positions in TTC. 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 during the period. Brooklyn Investment Group grew its position in Toro by 94.1% in the 1st quarter. Brooklyn Investment Group now owns 495 shares of the company's stock valued at $36,000 after acquiring an additional 240 shares in the last quarter. Financial Harvest LLC purchased a new stake in Toro during the 1st quarter worth approximately $42,000. CIBC Private Wealth Group LLC increased its position in shares of Toro by 30.2% during 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 during the period. Finally, Allworth Financial LP grew its position in shares of Toro by 91.6% during the first quarter. Allworth Financial LP now owns 663 shares of the company's stock worth $46,000 after buying an additional 317 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTC has been the topic of a number of analyst reports. DA Davidson set a $76.00 price objective on shares of Toro and gave the stock a "neutral" rating in a research report on Monday, June 9th. Wall Street Zen downgraded Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Robert W. Baird lifted their price objective on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Northland Securities restated a "market perform" rating and set a $80.00 target price (down from $100.00) on shares of Toro in a research report on Friday, June 6th. Finally, Northland Capmk lowered 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $82.75.

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.

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