IHT Wealth Management LLC Boosts Position in The Toro Company (NYSE:TTC)

IHT Wealth Management LLC raised its stake in The Toro Company (NYSE:TTC) by 40.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,047 shares of the company’s stock after purchasing an additional 885 shares during the period. IHT Wealth Management LLC’s holdings in Toro were worth $264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of Toro by 112.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company’s stock valued at $55,000 after buying an additional 333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Toro by 850.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after acquiring an additional 765 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Toro by 22.4% during the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock worth $85,000 after purchasing an additional 166 shares during the last quarter. CWM LLC increased its position in shares of 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 in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Toro in the 2nd quarter valued at about $94,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analysts Set New Price Targets

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

Toro Price Performance

Toro stock opened at $87.45 on Wednesday. The business has a 50 day simple moving average of $84.05 and a 200-day simple moving average of $87.86. The Toro Company has a 12 month low of $77.15 and a 12 month high of $102.00. 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 stock has a market capitalization of $8.97 billion, a PE ratio of 22.95 and a beta of 0.70.

Toro announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 23rd will be issued a $0.38 dividend. This is an increase from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.74%. Toro’s payout ratio is presently 37.80%.

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.