The Toro Company (NYSE:TTC) Shares Bought by Commerce Bank

Commerce Bank lifted its holdings in shares of The Toro Company (NYSE:TTC) by 36.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,472 shares of the company’s stock after buying an additional 3,304 shares during the period. Commerce Bank’s holdings in Toro were worth $1,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UMB Bank n.a. lifted its position in Toro by 112.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after purchasing an additional 333 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Toro by 850.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after purchasing an additional 765 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Toro by 22.4% in the 2nd quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after buying an additional 166 shares in the last quarter. CWM LLC grew its position in Toro by 15.5% in the third quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after acquiring an additional 143 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in Toro during the second quarter worth $94,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TTC. Northland Securities reissued a “market perform” rating and set a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. DA Davidson cut their price target on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Finally, Robert W. Baird reduced their price target 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. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $93.33.

Toro Stock Up 1.6 %

Shares of TTC opened at $85.11 on Monday. The stock has a fifty day moving average of $83.85 and a 200-day moving average of $87.94. 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 52 week low of $77.15 and a 52 week high of $102.00. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 22.34 and a beta of 0.69.

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

Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, September 30th. Toro’s dividend payout ratio is presently 37.80%.

Toro 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.