Swiss National Bank Acquires 4,600 Shares of The Toro Company (NYSE:TTC)

Posted by Defense World Staff on May 12th, 2023

Swiss National Bank boosted its holdings in The Toro Company (NYSE:TTC – Get Rating) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,500 shares of the company’s stock after acquiring an additional 4,600 shares during the quarter. Swiss National Bank owned 0.24% of Toro worth $28,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTC. Bank of Montreal Can boosted its holdings in Toro by 1.2% in the 1st quarter. Bank of Montreal Can now owns 49,173 shares of the company’s stock worth $4,262,000 after buying an additional 563 shares during the period. APG Asset Management N.V. boosted its holdings in Toro by 37.2% in the 1st quarter. APG Asset Management N.V. now owns 15,500 shares of the company’s stock worth $1,191,000 after buying an additional 4,200 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Toro by 7.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 60,366 shares of the company’s stock worth $5,309,000 after buying an additional 4,269 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Toro by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 883,779 shares of the company’s stock worth $75,558,000 after buying an additional 23,223 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in Toro by 9.2% in the 1st quarter. Baird Financial Group Inc. now owns 37,193 shares of the company’s stock worth $3,180,000 after buying an additional 3,144 shares during the period. 85.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on TTC shares. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Thursday. Northland Securities started coverage on shares of Toro in a report on Monday, April 17th. They set a “market perform” rating and a $110.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.67.

Insider Activity at Toro

In other Toro news, CEO Richard M. Olson sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $109.40, for a total value of $1,312,800.00. Following the completion of the sale, the chief executive officer now directly owns 17,913 shares in the company, valued at $1,959,682.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Blake M. Grams sold 11,400 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $107.05, for a total transaction of $1,220,370.00. Following the completion of the sale, the vice president now owns 37,106 shares of the company’s stock, valued at $3,972,197.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard M. Olson sold 12,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $109.40, for a total transaction of $1,312,800.00. Following the transaction, the chief executive officer now owns 17,913 shares in the company, valued at $1,959,682.20. The disclosure for this sale can be found here. Insiders have sold a total of 59,634 shares of company stock valued at $6,516,758 over the last ninety days. 2.22% of the stock is owned by company insiders.

Toro Stock Performance

Shares of NYSE:TTC opened at $105.02 on Friday. The firm has a market cap of $10.95 billion, a PE ratio of 23.03 and a beta of 0.72. The firm’s 50 day simple moving average is $106.77 and its 200-day simple moving average is $109.47. The Toro Company has a one year low of $71.86 and a one year high of $117.66. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.63 and a current ratio of 1.78.

Toro (NYSE:TTC – Get Rating) last issued its quarterly earnings data on Thursday, March 9th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Toro had a net margin of 10.16% and a return on equity of 36.04%. Toro’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. As a group, equities analysts predict that The Toro Company will post 4.83 EPS for the current year.

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 19th. Investors of record on Thursday, April 6th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, April 5th. Toro’s payout ratio is 29.82%.

Toro Company Profile

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The Toro Co is in the business of designing, manufacturing, marketing, and selling professional turf maintenance equipment and services. It operates through the following segments: Professional and Residential. The Professional segment consists of turf and landscape equipment, rental, specialty, and underground construction equipment, snow & ice management equipment, and irrigation and lighting products.