Citigroup Inc. Purchases 14,826 Shares of The Toro Company (NYSE:TTC)

Citigroup Inc. increased its position in shares of The Toro Company (NYSE:TTC) by 27.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,580 shares of the company’s stock after buying an additional 14,826 shares during the quarter. Citigroup Inc. owned 0.07% of Toro worth $6,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Select Equity Group L.P. lifted its position in Toro by 1.6% during the 2nd quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock worth $516,120,000 after buying an additional 88,536 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Toro by 1.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock valued at $445,673,000 after acquiring an additional 65,800 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Toro by 13.9% during the second quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock worth $84,279,000 after acquiring an additional 110,330 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in Toro by 41.0% during the second quarter. Ensign Peak Advisors Inc now owns 600,626 shares of the company’s stock valued at $56,165,000 after purchasing an additional 174,545 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Toro by 682.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after purchasing an additional 420,539 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TTC shares. Northland Securities reissued a “market perform” rating and issued a $100.00 target price on shares of Toro in a research note on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Robert W. Baird cut their target price on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, DA Davidson lowered their price target on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Three investment 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, Toro presently has an average rating of “Hold” and a consensus target price of $93.33.

Toro Trading Up 0.2 %

Shares of NYSE:TTC opened at $87.08 on Monday. 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 of $84.00 and a 200-day moving average of $87.85. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. The stock has a market cap of $8.94 billion, a PE ratio of 22.86 and a beta of 0.69.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company 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% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. As a group, equities research analysts forecast that The Toro Company will post 4.16 earnings per share for the current year.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio is presently 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.