Toro Company (The) (NYSE:TTC - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors bought 1,176 put options on the company. This represents an increase of 1,709% compared to the average daily volume of 65 put options.
Toro Price Performance
Shares of TTC stock traded down $0.85 during mid-day trading on Friday, hitting $75.09. 662,797 shares of the stock traded hands, compared to its average volume of 927,512. Toro has a twelve month low of $62.34 and a twelve month high of $100.93. 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 company's 50-day simple moving average is $73.01 and its 200-day simple moving average is $75.06. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 19.25 and a beta of 0.81.
Toro (NYSE:TTC - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. Toro had a return on equity of 27.99% and a net margin of 8.77%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company earned $1.40 earnings per share. Toro's revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Toro will post 4.41 earnings per share for the current year.
Toro Announces Dividend
The firm 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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, June 17th. Toro's dividend payout ratio is presently 38.97%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on TTC. DA Davidson set a $76.00 price target on Toro and gave the company a "neutral" rating in a report on Monday, June 9th. Raymond James Financial reduced their price target on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. Robert W. Baird raised their price target on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Finally, Northland Capmk cut shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $82.75.
Check Out Our Latest Stock Analysis on TTC
Insiders Place Their Bets
In related news, VP Kurt D. Svendsen sold 6,000 shares of the 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 sale, the vice president owned 11,646 shares of the company's stock, valued at $826,749.54. This trade represents a 34.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Lee Ellis sold 5,038 shares of the business's 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 transaction, the director directly owned 34,062 shares of the company's stock, valued at $2,411,930.22. The trade was a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in TTC. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Toro by 45.5% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock valued at $563,207,000 after acquiring an additional 2,199,920 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Toro by 1,184.6% during the first quarter. AQR Capital Management LLC now owns 1,963,253 shares of the company's stock valued at $142,827,000 after purchasing an additional 1,810,429 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Toro in the 4th quarter valued at $36,561,000. Boston Trust Walden Corp increased 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 purchasing an additional 445,287 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Toro by 39.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,534,760 shares of the company's stock worth $111,654,000 after buying an additional 434,257 shares during the period. Institutional investors and hedge funds own 87.95% of the company's stock.
Toro Company Profile
(
Get Free Report)
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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