Oppenheimer Asset Management Inc. Boosts Position in The Toro Company (NYSE:TTC)

Oppenheimer Asset Management Inc. grew its position in The Toro Company (NYSE:TTC) by 21.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,031 shares of the company’s stock after buying an additional 1,969 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Toro were worth $1,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its holdings in Toro by 1,204.8% during the 1st quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after acquiring an additional 253 shares in the last quarter. Rise Advisors LLC increased its stake in shares of Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 288 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Toro during the 4th quarter worth approximately $66,000. Headlands Technologies LLC purchased a new stake in Toro in the 1st quarter valued at approximately $66,000. Finally, Covestor Ltd grew its holdings in Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after buying an additional 601 shares during 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 a number of analyst reports. Robert W. Baird decreased their target price 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. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. 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 report on Monday, September 9th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Toro has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Price Performance

TTC stock opened at $85.50 on Friday. The firm has a market cap of $8.77 billion, a P/E ratio of 33.79 and a beta of 0.69. 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 Toro Company has a 1 year low of $77.15 and a 1 year high of $102.00. The stock has a 50-day simple moving average of $90.52 and a 200-day simple moving average of $89.43.

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

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 1.68%. Toro’s payout ratio is currently 56.92%.

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.