Bartlett & CO. Wealth Management LLC Cuts Stake in The Toro Company (NYSE:TTC)

Bartlett & CO. Wealth Management LLC trimmed its position in shares of The Toro Company (NYSE:TTC) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,123 shares of the company’s stock after selling 242 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Toro were worth $2,188,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of 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 acquiring an additional 333 shares in the last quarter. Covestor Ltd boosted its stake in shares of Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after buying an additional 601 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Toro in the first quarter valued at $66,000. Riverview Trust Co bought a new stake in Toro in the first quarter valued at about $72,000. Finally, Fifth Third Bancorp increased its stake in Toro by 22.4% during the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TTC. Northland Securities restated a “market perform” rating and issued a $100.00 target price 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. Robert W. Baird dropped 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. Finally, DA Davidson lowered their price objective on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. 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 MarketBeat.com, Toro has a consensus rating of “Hold” and a consensus target price of $93.33.

Toro Stock Performance

Shares of TTC opened at $83.89 on Friday. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. The stock has a market capitalization of $8.61 billion, a P/E ratio of 22.02 and a beta of 0.68. The firm’s 50 day moving average is $86.61 and its 200-day moving average is $88.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $1.16 billion during 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%. Toro’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 EPS. Equities research analysts anticipate that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend 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.