Huntington National Bank Reduces Stock Position in The Toro Company (NYSE:TTC)

Huntington National Bank trimmed its holdings in The Toro Company (NYSE:TTC) by 22.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,069 shares of the company’s stock after selling 900 shares during the period. Huntington National Bank’s holdings in Toro were worth $266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Speece Thorson Capital Group Inc. boosted its stake in Toro by 24.5% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 144,438 shares of the company’s stock valued at $12,527,000 after acquiring an additional 28,453 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Toro by 5.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 200,456 shares of the company’s stock valued at $17,386,000 after purchasing an additional 9,998 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Toro during the third quarter worth about $1,185,000. Entropy Technologies LP grew its stake in Toro by 11.2% in the third quarter. Entropy Technologies LP now owns 14,200 shares of the company’s stock worth $1,232,000 after purchasing an additional 1,427 shares in the last quarter. Finally, Versor Investments LP increased its holdings in Toro by 245.7% in the third quarter. Versor Investments LP now owns 23,540 shares of the company’s stock valued at $2,042,000 after buying an additional 16,731 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Trading Down 1.4 %

NYSE:TTC opened at $80.96 on Friday. The firm has a market capitalization of $8.31 billion, a P/E ratio of 21.25 and a beta of 0.69. The business has a 50 day simple moving average of $83.87 and a 200 day simple moving average of $88.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm posted $0.95 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.36 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.78%. Toro’s payout ratio is currently 37.80%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. DA Davidson decreased their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Robert W. Baird decreased their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $100.00 price target on shares of Toro in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $93.33.

Toro Company Profile

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.