Cigna Investments Inc. New trimmed its stake in The Toro Company (NYSE:TTC) by 12.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,377 shares of the company’s stock after selling 500 shares during the quarter. Cigna Investments Inc. New’s holdings in The Toro were worth $371,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. O Shares Investment Advisers LLC raised its holdings in shares of The Toro by 4.3% in the second quarter. O Shares Investment Advisers LLC now owns 28,146 shares of the company’s stock worth $3,093,000 after acquiring an additional 1,158 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of The Toro by 0.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,573,170 shares of the company’s stock worth $368,538,000 after acquiring an additional 25,485 shares during the last quarter. Cim LLC raised its holdings in shares of The Toro by 89.3% in the second quarter. Cim LLC now owns 172,311 shares of the company’s stock worth $19,759,000 after acquiring an additional 81,305 shares during the last quarter. Credit Suisse AG grew its position in shares of The Toro by 2.1% in the first quarter. Credit Suisse AG now owns 127,964 shares of the company’s stock valued at $13,199,000 after purchasing an additional 2,619 shares during the period. Finally, Barclays PLC grew its position in shares of The Toro by 15.0% in the first quarter. Barclays PLC now owns 450,401 shares of the company’s stock valued at $46,455,000 after purchasing an additional 58,841 shares during the period. 80.98% of the stock is owned by institutional investors.
TTC stock opened at $98.86 on Wednesday. The stock has a 50-day moving average price of $110.23 and a two-hundred day moving average price of $109.13. The Toro Company has a 12-month low of $80.77 and a 12-month high of $118.13. The company has a current ratio of 1.61, a quick ratio of 0.92 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.52 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 21st. Stockholders of record on Wednesday, October 6th will be given a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 1.06%. The Toro’s payout ratio is 34.77%.
A number of equities research analysts have recently commented on the company. Colliers Securities reaffirmed a “neutral” rating on shares of The Toro in a research report on Thursday, July 1st. Robert W. Baird downgraded The Toro from an “outperform” rating to a “neutral” rating and set a $116.00 price objective for the company. in a research report on Thursday, August 19th. Finally, Zacks Investment Research downgraded The Toro from a “buy” rating to a “hold” rating in a research report on Thursday, August 5th.
The Toro Profile
The Toro Co designs, manufactures, and markets a range of turf equipment. It operates through the following segments: Professional and Residential. The Professional segment consists of turf & landscape equipment; rental, specialty, and underground construction equipment; snow & ice management equipment; and irrigation products.
Featured Story: Short Selling Stocks, A Beginner’s Guide
Want to see what other hedge funds are holding TTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Toro Company (NYSE:TTC).
Receive News & Ratings for The Toro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Toro and related companies with MarketBeat.com's FREE daily email newsletter.