Bamco Inc. NY Sells 280 Shares of The Toro Company (NYSE:TTC)

Bamco Inc. NY cut its position in The Toro Company (NYSE:TTC) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,177 shares of the company’s stock after selling 280 shares during the quarter. Bamco Inc. NY’s holdings in Toro were worth $1,116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. boosted its position in Toro by 1,204.8% during the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after purchasing an additional 253 shares during the period. Rise Advisors LLC boosted its position in Toro by 2,057.1% during the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 288 shares during the period. GAMMA Investing LLC bought a new position in Toro during the fourth quarter worth $42,000. Fifth Third Bancorp boosted its position in Toro by 30.2% during the fourth quarter. Fifth Third Bancorp now owns 621 shares of the company’s stock worth $60,000 after purchasing an additional 144 shares during the period. Finally, Principal Securities Inc. bought a new position in Toro during the fourth quarter worth $66,000. 87.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their target price on Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.75.

Toro Price Performance

TTC stock traded down $0.31 during midday trading on Monday, reaching $96.45. The company had a trading volume of 291,317 shares, compared to its average volume of 892,313. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 38.31 and a beta of 0.69. The stock has a 50 day moving average price of $90.96 and a 200-day moving average price of $90.60. The Toro Company has a 1-year low of $77.15 and a 1-year high of $104.70. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, June 6th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Toro had a return on equity of 25.04% and a net margin of 6.00%. Toro’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Equities research analysts expect that The Toro Company will post 4.32 earnings per share for the current year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 18th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, June 18th. Toro’s dividend payout ratio is presently 56.92%.

Insider Buying and Selling at Toro

In other Toro news, CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $95.19, for a total value of $1,903,800.00. Following the transaction, the chief executive officer now owns 17,913 shares in the company, valued at $1,705,138.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.62% of the company’s stock.

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.