Raymond James & Associates Has $24.17 Million Holdings in The Toro Company (NYSE:TTC)

Raymond James & Associates raised its position in shares of The Toro Company (NYSE:TTC) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,700 shares of the company’s stock after purchasing an additional 14,950 shares during the period. Raymond James & Associates owned 0.27% of Toro worth $24,172,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TTC. UMB Bank n.a. raised its position in Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after acquiring an additional 333 shares in the last quarter. Covestor Ltd increased its stake in shares of Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after purchasing an additional 601 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Toro during the 1st quarter valued at $66,000. Fifth Third Bancorp raised its holdings in shares of Toro by 22.4% during the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Toro in the second quarter worth $94,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Toro Trading Up 0.3 %

Toro stock opened at $82.09 on Friday. The Toro Company has a 52 week low of $77.15 and a 52 week high of $102.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The firm has a market capitalization of $8.53 billion, a PE ratio of 32.45 and a beta of 0.68. The business’s 50-day simple moving average is $86.11 and its 200-day simple moving average is $88.53.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, September 5th. The company reported $1.18 EPS 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 analyst estimates of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Equities research analysts forecast that The Toro Company will post 4.16 earnings per share 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 given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Monday, September 30th. Toro’s dividend 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.