Toro Co (NYSE:TTC) declared a quarterly dividend on Thursday, December 7th, RTT News reports. Stockholders of record on Friday, December 22nd will be paid a dividend of 0.20 per share on Wednesday, January 10th. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. This is an increase from Toro’s previous quarterly dividend of $0.18.

Toro has increased its dividend payment by an average of 41.9% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Toro has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Toro to earn $2.56 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 27.3%.

Toro (NYSE:TTC) traded down $1.34 during midday trading on Thursday, reaching $64.06. 736,000 shares of the company’s stock were exchanged, compared to its average volume of 588,512. Toro has a 52 week low of $54.09 and a 52 week high of $73.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.10. The firm has a market capitalization of $7,048.04, a PE ratio of 27.59, a P/E/G ratio of 2.56 and a beta of 0.62.

Several analysts have recently issued reports on TTC shares. BidaskClub raised shares of Toro from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Seaport Global Securities lowered shares of Toro from a “buy” rating to a “neutral” rating and set a $67.00 target price on the stock. in a research note on Friday, August 25th. Finally, Dougherty & Co lowered shares of Toro from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.75.

In other news, Director Katherine J. Harless sold 6,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $61.88, for a total value of $371,280.00. Following the completion of the sale, the director now directly owns 77,672 shares of the company’s stock, valued at $4,806,343.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 56,000 shares of company stock worth $375,780 over the last quarter. 5.69% of the stock is currently owned by insiders.

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Toro Company Profile

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.

Dividend History for Toro (NYSE:TTC)

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