New York Life Investment Management LLC Sells 576 Shares of The Toro Company (NYSE:TTC)

New York Life Investment Management LLC lowered its position in shares of The Toro Company (NYSE:TTC) by 5.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,927 shares of the company’s stock after selling 576 shares during the quarter. New York Life Investment Management LLC’s holdings in Toro were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TTC. Orion Capital Management LLC bought a new position in Toro during the 3rd quarter worth $25,000. VisionPoint Advisory Group LLC grew its stake in shares of Toro by 135.9% in the third quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock valued at $25,000 after acquiring an additional 174 shares in the last quarter. Fortitude Family Office LLC bought a new position in Toro during the fourth quarter worth about $26,000. Millburn Ridgefield Corp acquired a new stake in Toro in the 3rd quarter worth about $30,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Toro in the 3rd quarter valued at about $30,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Stock Performance

NYSE TTC opened at $89.08 on Wednesday. The Toro Company has a 1 year low of $78.35 and a 1 year high of $108.50. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 32.51 and a beta of 0.72. The company has a current ratio of 2.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The firm’s 50 day simple moving average is $88.63 and its 200 day simple moving average is $89.13.

Toro (NYSE:TTC) last issued its earnings results on Thursday, March 7th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Toro had a net margin of 6.53% and a return on equity of 26.66%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, research analysts expect that The Toro Company will post 4.3 earnings per share for the current fiscal year.

Toro Announces Dividend

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 $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.62%. The ex-dividend date was Thursday, March 28th. Toro’s payout ratio is 52.55%.

Insider Transactions at Toro

In related news, VP Edric C. Funk sold 615 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $89.57, for a total transaction of $55,085.55. Following the completion of the transaction, the vice president now directly owns 1,049 shares in the company, valued at approximately $93,958.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Edric C. Funk sold 615 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $89.57, for a total transaction of $55,085.55. Following the sale, the vice president now owns 1,049 shares of the company’s stock, valued at approximately $93,958.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary Lee Ellis sold 5,192 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $88.75, for a total value of $460,790.00. Following the completion of the transaction, the director now directly owns 33,051 shares of the company’s stock, valued at approximately $2,933,276.25. The disclosure for this sale can be found here. Company insiders own 1.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TTC shares. DA Davidson raised their target price on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. TheStreet upgraded Toro from a “c+” rating to a “b-” rating in a research note on Thursday, February 15th. Finally, StockNews.com downgraded Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Toro presently has an average rating of “Hold” and a consensus price target of $105.60.

Toro 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.