Kelleher Financial Advisors Invests $203,000 in The Toro Company (NYSE:TTC)

Kelleher Financial Advisors acquired a new stake in The Toro Company (NYSE:TTC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,000 shares of the company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Procyon Advisors LLC raised its holdings in Toro by 1.9% in the second quarter. Procyon Advisors LLC now owns 5,347 shares of the company’s stock worth $544,000 after purchasing an additional 102 shares in the last quarter. CWM LLC raised its holdings in Toro by 21.1% in the second quarter. CWM LLC now owns 591 shares of the company’s stock worth $60,000 after purchasing an additional 103 shares in the last quarter. Dearborn Partners LLC raised its holdings in Toro by 2.8% in the third quarter. Dearborn Partners LLC now owns 3,864 shares of the company’s stock worth $334,000 after purchasing an additional 104 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in Toro by 4.6% in the second quarter. Cornerstone Wealth Management LLC now owns 2,705 shares of the company’s stock worth $275,000 after purchasing an additional 119 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its holdings in Toro by 36.1% in the first quarter. Belpointe Asset Management LLC now owns 501 shares of the company’s stock worth $56,000 after purchasing an additional 133 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors.

Insider Transactions at Toro

In other news, VP Kevin N. Carpenter sold 1,610 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $81.93, for a total transaction of $131,907.30. Following the completion of the transaction, the vice president now directly owns 169 shares of the company’s stock, valued at approximately $13,846.17. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.22% of the company’s stock.

Toro Price Performance

Shares of NYSE TTC opened at $86.75 on Friday. The Toro Company has a 52 week low of $78.35 and a 52 week high of $117.66. The firm has a market cap of $9.01 billion, a P/E ratio of 24.04 and a beta of 0.77. The business’s 50 day moving average price is $83.06 and its 200 day moving average price is $95.11. The company has a quick ratio of 0.68, a current ratio of 1.91 and a debt-to-equity ratio of 0.72.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, September 7th. The company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.28). Toro had a net margin of 7.95% and a return on equity of 33.37%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The company’s revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts expect that The Toro Company will post 4.08 earnings per share for the current year.

Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Wednesday, October 4th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Tuesday, October 3rd. Toro’s payout ratio is 37.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TTC. TheStreet lowered Toro from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. Robert W. Baird dropped their price target on Toro from $110.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, September 8th. Northland Securities dropped their price target on Toro from $110.00 to $95.00 and set a “market perform” rating on the stock in a research note on Monday, September 11th. StockNews.com began coverage on Toro in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Raymond James dropped their price target on Toro from $125.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, September 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Toro presently has a consensus rating of “Moderate Buy” and an average target price of $108.80.

Toro Profile

The Toro Company provides innovative solutions for the outdoor environment worldwide. It operates through two segments Professional and Residential. 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, 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, including snowplows; as well as stand-on snow and ice removal equipment, such as the related 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.