The Toro Company (NYSE:TTC) Shares Bought by Arizona State Retirement System

Posted by Defense World Staff on Jul 19th, 2023

Arizona State Retirement System grew its stake in shares of The Toro Company (NYSE:TTC – Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 30,238 shares of the company’s stock after acquiring an additional 731 shares during the period. Arizona State Retirement System’s holdings in Toro were worth $3,361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fred Alger Management LLC acquired a new stake in Toro during the 4th quarter valued at $29,000. Lindbrook Capital LLC raised its stake in Toro by 294.6% during the 4th quarter. Lindbrook Capital LLC now owns 292 shares of the company’s stock valued at $33,000 after purchasing an additional 218 shares during the period. Raleigh Capital Management Inc. raised its stake in Toro by 255.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 355 shares of the company’s stock valued at $40,000 after purchasing an additional 255 shares during the period. IFP Advisors Inc raised its stake in Toro by 20.0% during the 4th quarter. IFP Advisors Inc now owns 594 shares of the company’s stock valued at $40,000 after purchasing an additional 99 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in Toro during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 84.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TTC shares. DA Davidson started coverage on shares of Toro in a research note on Wednesday, June 21st. They set a “buy” rating and a $117.00 target price on the stock. Northland Securities started coverage on shares of Toro in a research note on Monday, April 17th. They set a “market perform” rating and a $110.00 target price on the stock. Robert W. Baird dropped their price target on shares of Toro from $120.00 to $110.00 in a research note on Friday, June 9th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research note on Monday. Finally, CL King started coverage on shares of Toro in a research note on Friday, May 19th. They issued a “buy” rating and a $133.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Toro presently has an average rating of “Moderate Buy” and an average target price of $120.00.

Insiders Place Their Bets

In other Toro news, VP Daryn A. Walters bought 1,654 shares of the stock in a transaction on Friday, June 23rd. The shares were purchased at an average cost of $97.41 per share, with a total value of $161,116.14. Following the completion of the transaction, the vice president now directly owns 3,684 shares of the company’s stock, valued at approximately $358,858.44. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.22% of the company’s stock.

Toro Trading Up 0.2 %

NYSE TTC opened at $103.21 on Wednesday. The Toro Company has a 1-year low of $79.48 and a 1-year high of $117.66. The company has a current ratio of 1.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $10.72 billion, a PE ratio of 21.02 and a beta of 0.72. The firm’s fifty day simple moving average is $101.45 and its 200-day simple moving average is $106.58.

Toro (NYSE:TTC – Get Free Report) last posted its earnings results on Thursday, June 8th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.52 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.44 billion. Toro had a net margin of 10.73% and a return on equity of 36.32%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, sell-side analysts anticipate that The Toro Company will post 4.78 earnings per share for the current fiscal year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Wednesday, June 21st were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, June 20th. Toro’s payout ratio is 27.70%.

Toro Company Profile

(Free Report)

The Toro Company provides innovative solutions for the outdoor environment worldwide. It operates through two segments Professional and Residential. The company's 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, including snowplows; as well as stand-on snow and ice removal equipment, such as the related 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.