Insider Selling: Toro Co (TTC) VP Sells 46,000 Shares of Stock

Toro Co (NYSE:TTC) VP Timothy P. Dordell sold 46,000 shares of Toro stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $66.07, for a total value of $3,039,220.00. Following the completion of the sale, the vice president now owns 24,225 shares of the company’s stock, valued at approximately $1,600,545.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Toro Co (NYSE:TTC) opened at $66.98 on Tuesday. The firm has a market capitalization of $7,141.44, a PE ratio of 27.79, a PEG ratio of 2.56 and a beta of 0.62. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.50. Toro Co has a 52 week low of $57.17 and a 52 week high of $73.86.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, December 7th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $488.60 million for the quarter, compared to analyst estimates of $491.55 million. Toro had a return on equity of 44.66% and a net margin of 10.69%. Toro’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. sell-side analysts anticipate that Toro Co will post 2.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 22nd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 21st. This is a positive change from Toro’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.19%. Toro’s payout ratio is 33.20%.

A number of institutional investors have recently added to or reduced their stakes in TTC. Bank of New York Mellon Corp raised its position in shares of Toro by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,698,237 shares of the company’s stock valued at $105,393,000 after purchasing an additional 11,953 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Toro by 23.6% in the 2nd quarter. Teachers Advisors LLC now owns 477,977 shares of the company’s stock valued at $33,119,000 after purchasing an additional 91,263 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Toro by 96.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock valued at $25,357,000 after purchasing an additional 179,968 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Toro by 1.1% in the 3rd quarter. New York State Common Retirement Fund now owns 363,522 shares of the company’s stock valued at $22,560,000 after purchasing an additional 3,862 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Toro by 13.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 340,944 shares of the company’s stock valued at $23,624,000 after purchasing an additional 40,671 shares in the last quarter. 75.87% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research lowered Toro from a “buy” rating to a “hold” rating and set a $73.00 price objective on the stock. in a research note on Saturday, January 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Toro presently has a consensus rating of “Hold” and a consensus price target of $68.33.

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About Toro

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

Insider Buying and Selling by Quarter for Toro (NYSE:TTC)

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