The Toro Company (NYSE:TTC) Director Gary Lee Ellis Sells 5,038 Shares of Stock

The Toro Company (NYSE:TTC - Get Free Report) Director Gary Lee Ellis sold 5,038 shares of the company's 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 sale, the director now owns 34,062 shares of the company's stock, valued at $2,411,930.22. This represents a 12.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Toro Stock Performance

NYSE TTC traded down $1.63 during trading hours on Friday, reaching $68.13. 60,910 shares of the company were exchanged, compared to its average volume of 938,017. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $6.72 billion, a P/E ratio of 16.99 and a beta of 0.83. The business's 50 day simple moving average is $71.20 and its 200-day simple moving average is $77.04. The 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 released its quarterly earnings data on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 EPS. On average, equities research analysts expect that The Toro Company will post 4.41 earnings per share for the current year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a yield of 2.23%. Toro's dividend payout ratio is presently 38.97%.

Institutional Investors Weigh In On Toro

Hedge funds have recently added to or reduced their stakes in the company. abrdn plc raised its stake in shares of Toro by 12.0% during the fourth quarter. abrdn plc now owns 3,220 shares of the company's stock worth $258,000 after acquiring an additional 346 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Toro by 27.7% in the fourth quarter. Apollon Wealth Management LLC now owns 9,900 shares of the company's stock valued at $793,000 after acquiring an additional 2,150 shares in the last quarter. Empowered Funds LLC raised its stake in Toro by 1,395.2% in the fourth quarter. Empowered Funds LLC now owns 35,376 shares of the company's stock worth $2,834,000 after buying an additional 33,010 shares in the last quarter. Savant Capital LLC raised its holdings in Toro by 5.0% in the fourth quarter. Savant Capital LLC now owns 3,293 shares of the company's stock worth $264,000 after purchasing an additional 158 shares in the last quarter. Finally, Leavell Investment Management Inc. purchased a new position in Toro during the fourth quarter valued at $227,000. Institutional investors own 87.95% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on TTC. Robert W. Baird upped their price target 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. Raymond James dropped their price objective on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. DA Davidson set a $76.00 price target on Toro and gave the company a "neutral" rating in a research report on Monday. Northland Securities reissued a "market perform" rating and set a $80.00 target price (down from $100.00) on shares of Toro in a research note on Friday, June 6th. Finally, Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average 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.