Dynamic Technology Lab Private Ltd Increases Stake in The Toro Company (NYSE:TTC)

Dynamic Technology Lab Private Ltd raised its holdings in shares of The Toro Company (NYSE:TTC) by 82.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,721 shares of the company’s stock after acquiring an additional 25,105 shares during the quarter. Toro makes up 0.5% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 14th largest holding. Dynamic Technology Lab Private Ltd owned 0.05% of Toro worth $4,833,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Speece Thorson Capital Group Inc. lifted its position in Toro by 24.5% during the third quarter. Speece Thorson Capital Group Inc. now owns 144,438 shares of the company’s stock valued at $12,527,000 after purchasing an additional 28,453 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Toro by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after acquiring an additional 9,371 shares during the period. Kennedy Capital Management LLC increased its holdings in Toro by 20.2% in the 1st quarter. Kennedy Capital Management LLC now owns 138,568 shares of the company’s stock worth $12,697,000 after acquiring an additional 23,270 shares in the last quarter. Atria Investments Inc bought a new stake in Toro during the 1st quarter worth approximately $1,139,000. Finally, Raymond James & Associates lifted its holdings in Toro by 5.7% during the third quarter. Raymond James & Associates now owns 278,700 shares of the company’s stock valued at $24,172,000 after purchasing an additional 14,950 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

TTC has been the topic of several recent analyst reports. Robert W. Baird decreased their price objective 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. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Northland Securities reiterated a “market perform” rating and issued a $100.00 target price on shares of Toro in a research report on Friday, September 6th. Finally, DA Davidson dropped their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Toro currently has an average rating of “Hold” and a consensus target price of $93.33.

Toro Stock Up 1.6 %

Shares of NYSE TTC opened at $85.11 on Monday. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. The firm’s 50-day moving average price is $83.85 and its 200-day moving average price is $87.94. 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 released its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. On average, equities research analysts anticipate that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Dividend Announcement

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

About Toro

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.