Shares of Toro Co (NYSE:TTC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $72.85 and last traded at $72.64, with a volume of 3416 shares. The stock had previously closed at $72.43.
Several analysts recently issued reports on TTC shares. Robert W. Baird started coverage on Toro in a report on Friday, January 18th. They issued a “neutral” rating and a $62.00 price target on the stock. Zacks Investment Research downgraded Toro from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Finally, ValuEngine raised Toro from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $70.00.
The company has a debt-to-equity ratio of 0.45, a current ratio of 1.65 and a quick ratio of 0.92. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 27.22 and a beta of 0.75.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, March 29th. Toro’s payout ratio is currently 33.71%.
In other Toro news, VP Darren L. Redetzke sold 16,000 shares of Toro stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $68.95, for a total transaction of $1,103,200.00. Following the sale, the vice president now owns 16,013 shares of the company’s stock, valued at approximately $1,104,096.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert C. Buhrmaster sold 9,000 shares of Toro stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $67.27, for a total value of $605,430.00. Following the sale, the director now directly owns 25,091 shares in the company, valued at approximately $1,687,871.57. The disclosure for this sale can be found here. Insiders have sold a total of 59,293 shares of company stock worth $4,048,661 in the last ninety days. 2.36% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in shares of Toro in the 4th quarter worth $35,000. Highwater Wealth Management LLC bought a new stake in shares of Toro in the 4th quarter worth $39,000. Liberty Wealth Management LLC bought a new stake in shares of Toro in the 4th quarter worth $49,000. Parallel Advisors LLC raised its stake in shares of Toro by 25.5% in the 4th quarter. Parallel Advisors LLC now owns 1,601 shares of the company’s stock worth $89,000 after buying an additional 325 shares in the last quarter. Finally, ETF Managers Group LLC raised its stake in shares of Toro by 18.5% in the 4th quarter. ETF Managers Group LLC now owns 2,135 shares of the company’s stock worth $119,000 after buying an additional 334 shares in the last quarter. 80.78% of the stock is currently owned by hedge funds and other institutional investors.
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About Toro (NYSE:TTC)
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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