Ironwood Investment Counsel LLC Sells 380 Shares of The Toro Company (NYSE:TTC)

Ironwood Investment Counsel LLC reduced its stake in The Toro Company (NYSE:TTC) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,709 shares of the company’s stock after selling 380 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Toro were worth $340,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Toro during the fourth quarter valued at $26,000. UMB Bank n.a. boosted its position in shares of Toro by 1,204.8% during the 1st quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after purchasing an additional 253 shares in the last quarter. Rise Advisors LLC grew its stake in Toro by 2,057.1% during the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 288 shares during the period. GAMMA Investing LLC bought a new stake in Toro in the fourth quarter worth approximately $42,000. Finally, Fifth Third Bancorp lifted its stake in Toro by 30.2% in the fourth quarter. Fifth Third Bancorp now owns 621 shares of the company’s stock valued at $60,000 after buying an additional 144 shares during the period. 87.95% of the stock is currently owned by institutional investors.

Toro Stock Down 0.8 %

Shares of NYSE:TTC traded down $0.79 during trading on Monday, reaching $96.56. 594,851 shares of the stock were exchanged, compared to its average volume of 903,181. The stock has a fifty day moving average of $90.30 and a two-hundred day moving average of $90.43. The Toro Company has a 1-year low of $77.15 and a 1-year high of $104.70. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 38.23 and a beta of 0.69.

Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, June 6th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. Toro had a net margin of 6.00% and a return on equity of 25.04%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned $1.58 earnings per share. The business’s revenue was up .7% on a year-over-year basis. Research analysts anticipate that The Toro Company will post 4.32 earnings per share for the current fiscal year.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 18th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Tuesday, June 18th. Toro’s payout ratio is 56.92%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted their price objective on shares of Toro from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.75.

Insider Buying and Selling at Toro

In other news, CEO Richard M. Olson sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $95.19, for a total value of $1,903,800.00. Following the completion of the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,705,138.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.62% of the company’s stock.

About Toro

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The 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, such as snowplows, as well as stand-on snow and ice removal equipment, such as 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.