Point72 Asia Singapore Pte. Ltd. Buys New Position in The Toro Company (NYSE:TTC)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of The Toro Company (NYSE:TTC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,039 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Toro by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock worth $1,007,070,000 after buying an additional 103,300 shares in the last quarter. Cim LLC purchased a new stake in Toro during the fourth quarter worth approximately $12,882,000. Boston Trust Walden Corp boosted its holdings in shares of Toro by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after buying an additional 9,371 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Toro by 27.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 54,458 shares of the company’s stock valued at $4,990,000 after buying an additional 11,661 shares during the last quarter. Finally, Mairs & Power Inc. raised its stake in Toro by 0.6% during the 4th quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company’s stock worth $309,620,000 after acquiring an additional 18,899 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

TTC has been the topic of several research analyst reports. Northland Securities reaffirmed a “market perform” rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Robert W. Baird lowered their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. DA Davidson reduced their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Finally, StockNews.com raised Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Toro has an average rating of “Hold” and an average price target of $93.33.

Toro Stock Down 0.8 %

Toro stock opened at $86.05 on Wednesday. The Toro Company has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 34.01 and a beta of 0.69. The stock’s fifty day moving average is $89.05 and its two-hundred day moving average is $89.20. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. Analysts predict that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.67%. Toro’s payout ratio is currently 56.92%.

Toro 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.