American International Group Inc. Decreases Stock Holdings in The Toro Company (NYSE:TTC)

American International Group Inc. trimmed its holdings in The Toro Company (NYSE:TTC) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,069 shares of the company’s stock after selling 2,108 shares during the quarter. American International Group Inc.’s holdings in Toro were worth $12,743,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Evoke Wealth LLC purchased a new position in Toro in the 4th quarter worth approximately $2,479,000. Vanguard Group Inc. lifted its stake in Toro by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock worth $1,007,070,000 after purchasing an additional 103,300 shares in the last quarter. TD Asset Management Inc lifted its stake in Toro by 334.2% in the 4th quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock worth $78,545,000 after purchasing an additional 629,820 shares in the last quarter. Cim LLC purchased a new position in Toro in the 4th quarter worth approximately $12,882,000. Finally, Bank of Nova Scotia raised its position in shares of Toro by 5,261.3% during the 4th quarter. Bank of Nova Scotia now owns 132,209 shares of the company’s stock valued at $12,690,000 after buying an additional 129,743 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Trading Up 2.0 %

Toro stock traded up $1.87 during trading on Thursday, hitting $97.34. The company had a trading volume of 173,300 shares, compared to its average volume of 892,718. The Toro Company has a 1-year low of $77.15 and a 1-year high of $104.70. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The company’s 50 day simple moving average is $90.65 and its 200-day simple moving average is $90.53. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 37.74 and a beta of 0.69.

Toro (NYSE:TTC) last posted its earnings results on Thursday, June 6th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.11. Toro had a net margin of 6.00% and a return on equity of 25.04%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts expect that The Toro Company will post 4.32 EPS for the current fiscal year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, June 18th were issued a $0.36 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $1.44 annualized dividend and a yield of 1.48%. Toro’s dividend payout ratio (DPR) is presently 56.92%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted their price target on shares of Toro from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Toro presently has a consensus rating of “Hold” and an average price target of $98.75.

Insider Activity at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the completion of the transaction, the chief executive officer now owns 17,913 shares in the company, valued at $1,705,138.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.62% of the stock is owned by insiders.

Toro Company 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.