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

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. UMB Bank n.a. boosted its stake in Toro by 112.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after buying an additional 333 shares during the last quarter. Covestor Ltd boosted its position in shares of Toro by 522.6% in the first quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after acquiring an additional 601 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Toro by 850.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock worth $74,000 after acquiring an additional 765 shares during the last quarter. Fifth Third Bancorp grew its holdings in Toro by 22.4% in the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock valued at $85,000 after purchasing an additional 166 shares during the period. Finally, CWM LLC increased its position in Toro by 15.5% during the third quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Stock Down 1.4 %

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

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

Toro Announces Dividend

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

Analysts Set New Price Targets

TTC has been the subject of several research reports. Robert W. Baird lowered their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. DA Davidson lowered their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Northland Securities restated a “market perform” rating and issued a $100.00 price objective on shares of Toro in a report on Friday, September 6th. Finally, StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, 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.