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

The Toro Company (NYSE:TTC - Get Free Report) Director Gary Lee Ellis sold 5,038 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total transaction of $356,740.78. Following the completion of the sale, the director now owns 34,062 shares in the company, valued at approximately $2,411,930.22. The trade was a 12.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Toro Price Performance

Shares of Toro stock traded down $2.48 during trading hours on Friday, reaching $67.27. The company's stock had a trading volume of 1,006,896 shares, compared to its average volume of 935,481. The stock has a market cap of $6.64 billion, a P/E ratio of 16.78 and a beta of 0.83. The Toro Company has a one year low of $62.34 and a one year high of $100.93. The firm has a 50 day moving average price of $71.28 and a 200-day moving average price of $76.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.40 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. On average, analysts predict that The Toro Company will post 4.41 EPS for the current year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. The ex-dividend date is Tuesday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.26%. Toro's payout ratio is 38.97%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Northland Securities restated a "market perform" rating and issued a $80.00 target price (down from $100.00) on shares of Toro in a report on Friday, June 6th. Raymond James reduced 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, DA Davidson set a $76.00 target price on shares of Toro and gave the stock a "neutral" rating in a report on Monday, June 9th. 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, Toro presently has a consensus rating of "Hold" and an average price target of $82.75.

Hedge Funds Weigh In On Toro

Several hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in Toro by 45.5% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock worth $563,207,000 after acquiring an additional 2,199,920 shares in the last quarter. AQR Capital Management LLC grew its stake in Toro by 1,184.6% in the 1st quarter. AQR Capital Management LLC now owns 1,963,253 shares of the company's stock worth $142,827,000 after acquiring an additional 1,810,429 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Toro by 996,664.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company's stock worth $39,410,000 after acquiring an additional 498,332 shares in the last quarter. Raymond James Financial Inc. bought a new position in Toro in the 4th quarter worth about $36,561,000. Finally, Boston Trust Walden Corp grew its stake in Toro by 133.3% in the 1st quarter. Boston Trust Walden Corp now owns 779,419 shares of the company's stock worth $56,703,000 after acquiring an additional 445,287 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.

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.