Janney Montgomery Scott LLC Trims Position in The Toro Company (NYSE:TTC)

Janney Montgomery Scott LLC lessened its position in shares of The Toro Company (NYSE:TTC) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,186 shares of the company’s stock after selling 209 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Toro were worth $797,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Boston Trust Walden Corp increased its position in Toro by 3.0% during the second 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position 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 valued at $4,990,000 after acquiring an additional 11,661 shares during the last quarter. Kennedy Capital Management LLC increased its position in Toro by 20.2% during the first quarter. Kennedy Capital Management LLC now owns 138,568 shares of the company’s stock valued at $12,697,000 after acquiring an additional 23,270 shares during the last quarter. Gabelli Funds LLC increased its position in Toro by 19.6% during the first quarter. Gabelli Funds LLC now owns 55,000 shares of the company’s stock valued at $5,040,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Atria Investments Inc purchased a new stake in Toro during the first quarter valued at $1,139,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TTC. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Northland Securities restated a “market perform” rating and issued a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Robert W. Baird reduced their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, DA Davidson reduced their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $93.33.

Toro Stock Performance

NYSE TTC opened at $80.96 on Monday. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 21.25 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $83.87 and a 200-day moving average price of $88.13. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00.

Toro (NYSE:TTC) last released its quarterly earnings data 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). Toro had a return on equity of 25.94% and a net margin of 8.89%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company earned $0.95 EPS. The business’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that The Toro Company will post 4.16 EPS for the current fiscal 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 paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Monday, September 30th. Toro’s payout ratio is 37.80%.

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.