David H. Alkire Sells 23,000 Shares of Toro Co (TTC) Stock
Toro Co (NYSE:TTC) VP David H. Alkire sold 23,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the completion of the transaction, the vice president now directly owns 14,769 shares in the company, valued at $972,243.27. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Toro Co (TTC) opened at $64.40 on Friday. The company has a market cap of $6,960.75, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.48 and a beta of 0.62. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.50. Toro Co has a 1-year low of $54.78 and a 1-year high of $73.86.
Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The company had revenue of $488.60 million during the quarter, compared to the consensus estimate of $491.55 million. Toro had a net margin of 10.69% and a return on equity of 44.66%. Toro’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. equities research analysts expect that Toro Co will post 2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from Toro’s previous quarterly dividend of $0.18. Toro’s dividend payout ratio (DPR) is currently 29.05%.
A number of research firms have commented on TTC. Seaport Global Securities downgraded shares of Toro from a “buy” rating to a “neutral” rating and set a $67.00 price objective for the company. in a report on Friday, August 25th. BidaskClub downgraded shares of Toro from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Dougherty & Co downgraded shares of Toro from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Toro from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $68.67.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Toro during the 3rd quarter worth approximately $172,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Toro during the 2nd quarter worth approximately $212,000. Advisory Services Network LLC increased its holdings in shares of Toro by 17.4% during the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock worth $246,000 after buying an additional 527 shares during the last quarter. Mckinley Capital Management LLC Delaware increased its holdings in shares of Toro by 25.3% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock worth $420,000 after buying an additional 1,366 shares during the last quarter. Finally, Alps Advisors Inc. increased its holdings in shares of Toro by 0.6% during the 2nd quarter. Alps Advisors Inc. now owns 8,825 shares of the company’s stock worth $611,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.
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The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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