SG Americas Securities LLC raised its position in shares of Toro Company (The) (NYSE:TTC – Free Report) by 416.7% during the 1st quarter, Holdings Channel reports. The fund owned 68,455 shares of the company’s stock after purchasing an additional 55,206 shares during the period. SG Americas Securities LLC’s holdings in Toro were worth $6,396,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of TTC. Goldman Sachs Group Inc. increased its position in Toro by 37.4% in the first quarter. Goldman Sachs Group Inc. now owns 456,861 shares of the company’s stock worth $33,237,000 after purchasing an additional 124,373 shares during the last quarter. Van ECK Associates Corp lifted its position in Toro by 4.4% during the fourth quarter. Van ECK Associates Corp now owns 258,444 shares of the company’s stock valued at $20,345,000 after purchasing an additional 10,835 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Toro by 0.3% in the 4th quarter. Russell Investments Group Ltd. now owns 125,625 shares of the company’s stock worth $9,889,000 after buying an additional 410 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in shares of Toro by 425.6% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 64,783 shares of the company’s stock worth $5,100,000 after buying an additional 52,457 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Toro by 379.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 55,630 shares of the company’s stock worth $4,379,000 after buying an additional 44,030 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.
Toro Stock Performance
Toro stock opened at $96.83 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.74. The firm has a market capitalization of $9.22 billion, a P/E ratio of 27.90 and a beta of 0.70. Toro Company has a 1-year low of $67.64 and a 1-year high of $105.18. The company’s 50-day moving average is $92.28 and its 200 day moving average is $91.41.
Toro Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 16th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.56 dividend on an annualized basis and a yield of 1.6%. Toro’s payout ratio is 44.96%.
Analyst Upgrades and Downgrades
TTC has been the subject of a number of analyst reports. DA Davidson increased their price target on shares of Toro from $97.00 to $117.00 and gave the company a “buy” rating in a report on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Toro in a research note on Friday, April 17th. Wall Street Zen upgraded Toro from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 15th. Finally, Robert W. Baird lowered their price objective on Toro from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.75.
Read Our Latest Research Report on Toro
Insider Buying and Selling
In other news, VP Kurt D. Svendsen sold 6,600 shares of Toro stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $93.09, for a total value of $614,394.00. Following the transaction, the vice president directly owned 12,166 shares in the company, valued at approximately $1,132,532.94. This trade represents a 35.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary Lee Ellis sold 4,951 shares of Toro stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $91.91, for a total value of $455,046.41. Following the completion of the transaction, the director owned 35,297 shares in the company, valued at $3,244,147.27. This trade represents a 12.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.88% of the company’s stock.
Toro Profile
The Toro Company (NYSE: TTC) specializes in the design, manufacture and marketing of a broad range of outdoor environment equipment for residential, commercial and professional markets. Its product portfolio includes lawn mowers, utility vehicles, snow throwers, irrigation systems and landscape maintenance equipment. Toro’s offerings span walk-behind and ride-on mowers, zero-turn radius mowers, snow blowers, sprinklers, drip irrigation products, spreaders and specialty turf maintenance machines tailored to golf courses, sports fields and municipal parks.
Founded in 1914 and headquartered in Bloomington, Minnesota, Toro has built a century-long legacy of innovation in the grounds-care industry.
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