Bank of Montreal Can Increases Stock Position in The Toro Company (NYSE:TTC)

Bank of Montreal Can raised its holdings in The Toro Company (NYSE:TTCGet Rating) by 96.8% during the second quarter, Holdings Channel.com reports. The firm owned 96,752 shares of the company’s stock after purchasing an additional 47,579 shares during the quarter. Bank of Montreal Can’s holdings in Toro were worth $8,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Shell Asset Management Co. boosted its stake in shares of Toro by 14.4% during the 1st quarter. Shell Asset Management Co. now owns 8,234 shares of the company’s stock worth $704,000 after acquiring an additional 1,039 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Toro by 36.2% during the 1st quarter. Russell Investments Group Ltd. now owns 65,242 shares of the company’s stock worth $5,580,000 after acquiring an additional 17,337 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Toro during the 1st quarter worth approximately $22,202,000. D.B. Root & Company LLC boosted its stake in shares of Toro by 1.7% during the 1st quarter. D.B. Root & Company LLC now owns 8,732 shares of the company’s stock worth $746,000 after acquiring an additional 144 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Toro by 42.6% during the 1st quarter. KBC Group NV now owns 404,852 shares of the company’s stock worth $34,611,000 after acquiring an additional 120,855 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Analysts Set New Price Targets

TTC has been the topic of several research analyst reports. StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th. Northcoast Research raised Toro from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 6th.

Toro Price Performance

TTC stock opened at $111.60 on Friday. The Toro Company has a 1 year low of $71.86 and a 1 year high of $113.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.66 and a current ratio of 1.59. The stock’s 50 day moving average price is $99.22 and its 200 day moving average price is $88.36. The firm has a market cap of $11.63 billion, a P/E ratio of 30.58 and a beta of 0.76.

Toro (NYSE:TTCGet Rating) last posted its earnings results on Thursday, September 1st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Toro had a return on equity of 32.35% and a net margin of 8.97%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company earned $0.92 EPS. Toro’s revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts expect that The Toro Company will post 4.2 earnings per share for the current fiscal year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 18th. Investors of record on Wednesday, October 5th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Tuesday, October 4th. Toro’s payout ratio is currently 32.88%.

Insider Buying and Selling at Toro

In other Toro news, VP Amy E. Dahl sold 2,600 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $89.81, for a total value of $233,506.00. Following the completion of the transaction, the vice president now directly owns 18,706 shares in the company, valued at approximately $1,679,985.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Toro news, CFO Renee J. Peterson sold 6,725 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $91.11, for a total value of $612,714.75. Following the completion of the transaction, the chief financial officer now directly owns 13,498 shares in the company, valued at approximately $1,229,802.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy E. Dahl sold 2,600 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $89.81, for a total value of $233,506.00. Following the completion of the transaction, the vice president now owns 18,706 shares of the company’s stock, valued at $1,679,985.86. The disclosure for this sale can be found here. In the last three months, insiders sold 22,371 shares of company stock worth $2,014,232. Insiders own 2.10% of the company’s stock.

Toro Profile

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The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. The company's 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; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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