Toro Company (The) (TTC) VP Darren L. Redetzke Sells 8,000 Shares of Stock

Toro Company (The) (NYSE:TTC) VP Darren L. Redetzke sold 8,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $71.00, for a total transaction of $568,000.00. Following the sale, the vice president now directly owns 8,213 shares of the company’s stock, valued at approximately $583,123. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of Toro Company (NYSE TTC) traded up 1.00% during trading on Friday, hitting $72.39. 923,453 shares of the stock traded hands. The company’s 50 day moving average is $67.78 and its 200 day moving average is $61.34. Toro Company has a 52-week low of $41.49 and a 52-week high of $72.50. The firm has a market cap of $7.81 billion, a PE ratio of 32.20 and a beta of 0.52.

Toro Company (The) (NYSE:TTC) last released its earnings results on Thursday, May 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. Toro Company (The) had a net margin of 10.23% and a return on equity of 44.74%. The firm had revenue of $872.77 million during the quarter, compared to the consensus estimate of $863.17 million. During the same period in the previous year, the firm earned $1.89 earnings per share. Toro Company (The)’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Toro Company will post $2.37 EPS for the current year.

Insider Buying and Selling by Quarter for Toro Company (The) (NYSE:TTC)

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Friday, June 23rd will be paid a dividend of $0.175 per share. The ex-dividend date is Wednesday, June 21st. This represents a $0.70 annualized dividend and a yield of 0.97%. Toro Company (The)’s dividend payout ratio is currently 30.97%.

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A number of large investors have recently added to or reduced their stakes in TTC. BlackRock Inc. increased its stake in Toro Company (The) by 9,353.5% in the first quarter. BlackRock Inc. now owns 8,765,260 shares of the company’s stock valued at $547,480,000 after buying an additional 8,672,540 shares in the last quarter. Vanguard Group Inc. increased its stake in Toro Company (The) by 8.0% in the first quarter. Vanguard Group Inc. now owns 9,687,572 shares of the company’s stock valued at $605,086,000 after buying an additional 718,121 shares in the last quarter. Lazard Asset Management LLC increased its stake in Toro Company (The) by 178.6% in the first quarter. Lazard Asset Management LLC now owns 577,295 shares of the company’s stock valued at $36,057,000 after buying an additional 370,093 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Toro Company (The) by 6.4% in the first quarter. JPMorgan Chase & Co. now owns 4,664,168 shares of the company’s stock valued at $291,324,000 after buying an additional 279,198 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Toro Company (The) during the fourth quarter valued at about $10,295,000. Institutional investors own 77.19% of the company’s stock.

Several analysts have recently weighed in on TTC shares. Dougherty & Co reissued a “buy” rating and issued a $65.00 price target (up previously from $60.00) on shares of Toro Company (The) in a research note on Friday, February 24th. Zacks Investment Research cut shares of Toro Company (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Cleveland Research raised shares of Toro Company (The) from a “neutral” rating to a “buy” rating in a research note on Thursday, March 30th. Finally, Longbow Research raised shares of Toro Company (The) from an “underperform” rating to a “neutral” rating in a research note on Monday, May 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $58.50.

About Toro Company (The)

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

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