The Toro Company (NYSE:TTC) Shares Sold by Inspire Investing LLC

Inspire Investing LLC decreased its stake in The Toro Company (NYSE:TTC) by 80.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,287 shares of the company’s stock after selling 13,853 shares during the period. Inspire Investing LLC’s holdings in Toro were worth $285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boston Trust Walden Corp lifted its position in shares of Toro by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after acquiring an additional 9,371 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Toro by 27.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 54,458 shares of the company’s stock worth $4,990,000 after purchasing an additional 11,661 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Toro by 4.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 141,730 shares of the company’s stock worth $12,987,000 after purchasing an additional 6,350 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in Toro by 20.2% in the first quarter. Kennedy Capital Management LLC now owns 138,568 shares of the company’s stock valued at $12,697,000 after purchasing an additional 23,270 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Toro by 19.6% in the first quarter. Gabelli Funds LLC now owns 55,000 shares of the company’s stock valued at $5,040,000 after buying an additional 9,000 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird decreased 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. Northland Securities reiterated a “market perform” rating and issued a $100.00 price target on shares of Toro in a research report on Friday, September 6th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Finally, DA Davidson reduced their target price on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $93.33.

Toro Stock Performance

NYSE:TTC opened at $83.89 on Friday. The firm has a 50 day simple moving average of $86.61 and a 200-day simple moving average of $88.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The firm has a market cap of $8.61 billion, a PE ratio of 22.02 and a beta of 0.68. The Toro Company has a 1-year low of $77.15 and a 1-year high of $102.00.

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

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.36 per share. The ex-dividend date was Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.72%. Toro’s payout ratio is currently 37.80%.

About Toro

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.