SkyView Investment Advisors LLC Purchases 298 Shares of The Toro Company (NYSE:TTC)

SkyView Investment Advisors LLC lifted its position in The Toro Company (NYSE:TTC) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,168 shares of the company’s stock after acquiring an additional 298 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Toro were worth $882,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Toro by 112.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after purchasing an additional 333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings 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 buying an additional 765 shares during the period. Fifth Third Bancorp raised its stake in Toro by 22.4% in the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock worth $85,000 after buying an additional 166 shares in the last quarter. CWM LLC lifted its holdings in Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after buying an additional 143 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Toro during the 2nd quarter valued at $94,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Stock Up 1.1 %

TTC stock opened at $88.44 on Thursday. The stock has a market capitalization of $9.07 billion, a PE ratio of 23.21 and a beta of 0.70. The Toro Company has a 52 week low of $77.15 and a 52 week high of $102.00. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $84.08 and a 200 day moving average of $87.87.

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.38 per share. The ex-dividend date is Monday, December 23rd. This is a positive change from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.72%. Toro’s payout ratio is 37.80%.

Toro announced that its board has authorized a stock buyback plan on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. DA Davidson decreased their price target on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Robert W. Baird cut 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. Finally, Northland Securities reiterated a “market perform” rating and set a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $93.33.

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.