The Toro Company (NYSE:TTC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its holdings in shares of The Toro Company (NYSE:TTC) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,696 shares of the company’s stock after selling 1,283 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Toro worth $4,657,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TTC. Allspring Global Investments Holdings LLC grew its stake in shares of Toro by 37,332.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock worth $44,034,000 after purchasing an additional 469,643 shares during the period. Point72 Asset Management L.P. grew its position in Toro by 682.7% during the second quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after buying an additional 420,539 shares during the period. Millennium Management LLC grew its position in Toro by 11,970.3% during the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock worth $36,750,000 after buying an additional 389,752 shares during the period. Nuance Investments LLC purchased a new position in Toro in the third quarter valued at about $29,146,000. Finally, Marshall Wace LLP acquired a new stake in shares of Toro during the 2nd quarter valued at approximately $25,166,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Northland Securities restated a “market perform” rating and issued a $100.00 price target on shares of Toro in a report on Friday, September 6th. 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 report on Monday, September 9th. 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. Finally, StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Toro presently has an average rating of “Hold” and a consensus target price of $93.33.

Toro Stock Up 0.2 %

TTC opened at $87.08 on Monday. The firm has a market cap of $8.94 billion, a P/E ratio of 22.86 and a beta of 0.69. The business’s fifty day simple moving average is $84.00 and its 200 day simple moving average is $87.85. 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.

Toro (NYSE:TTC) last issued its quarterly earnings results 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 firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Toro Company will post 4.16 EPS for the current fiscal year.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio (DPR) 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.