Northern Trust Corp Increases Position in Toro Co (TTC)

Northern Trust Corp boosted its position in shares of Toro Co (NYSE:TTC) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 845,738 shares of the company’s stock after buying an additional 9,122 shares during the quarter. Northern Trust Corp owned 0.80% of Toro worth $50,956,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Toro by 1.5% during the second quarter. BlackRock Inc. now owns 9,485,585 shares of the company’s stock valued at $571,507,000 after buying an additional 138,009 shares in the last quarter. Select Equity Group L.P. boosted its stake in Toro by 124.3% during the second quarter. Select Equity Group L.P. now owns 2,300,656 shares of the company’s stock valued at $138,615,000 after buying an additional 1,274,800 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Toro by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 1,955,338 shares of the company’s stock valued at $117,809,000 after buying an additional 236,673 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Toro by 24.7% during the second quarter. Dimensional Fund Advisors LP now owns 659,820 shares of the company’s stock valued at $39,754,000 after buying an additional 130,583 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Toro by 2.7% during the second quarter. Wells Fargo & Company MN now owns 582,413 shares of the company’s stock valued at $35,090,000 after buying an additional 15,237 shares in the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

NYSE:TTC opened at $55.66 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.71 and a quick ratio of 0.99. Toro Co has a 1-year low of $54.17 and a 1-year high of $67.81. The firm has a market capitalization of $6.31 billion, a P/E ratio of 23.10 and a beta of 0.62.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. Toro had a return on equity of 46.89% and a net margin of 10.39%. The business had revenue of $655.80 million during the quarter, compared to analyst estimates of $664.75 million. During the same quarter last year, the company posted $0.61 EPS. Toro’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts expect that Toro Co will post 2.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Wednesday, October 3rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.44%. Toro’s dividend payout ratio (DPR) is 33.20%.

In related news, Director Christopher A. Twomey sold 19,292 shares of the stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $60.03, for a total value of $1,158,098.76. Following the completion of the transaction, the director now owns 9,244 shares in the company, valued at approximately $554,917.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt D. Svendsen sold 6,180 shares of the stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $60.55, for a total value of $374,199.00. The disclosure for this sale can be found here. Insiders sold a total of 60,326 shares of company stock valued at $3,679,331 in the last quarter. 5.32% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on TTC. ValuEngine raised Toro from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Zacks Investment Research lowered Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. Finally, Dougherty & Co reiterated a “buy” rating on shares of Toro in a research report on Monday, August 13th.

Toro Company Profile

The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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