Toro (NYSE:TTC) Trading 2.9% Higher Following Dividend Announcement

Shares of Toro Company (The) (NYSE:TTC) traded up 2.9% during trading on Wednesday following a dividend announcement from the company. The company traded as high as $97.25 and last traded at $97.2370. 61,530 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 840,652 shares. The stock had previously closed at $94.52.

The newly announced dividend which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, October 6th will be given a dividend of $0.39 per share. The ex-dividend date is Tuesday, October 6th. This represents a $1.56 annualized dividend and a yield of 1.6%. Toro’s dividend payout ratio (DPR) is presently 41.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Robert W. Baird dropped their target price on Toro from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Oppenheimer initiated coverage on shares of Toro in a research report on Wednesday. They set an “outperform” rating and a $120.00 price target on the stock. Wall Street Zen cut shares of Toro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. DA Davidson cut their price objective on shares of Toro from $117.00 to $115.00 and set a “buy” rating for the company in a report on Friday, September 4th. Finally, Weiss Ratings upgraded shares of Toro from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $111.67.

Toro Price Performance

The business’s fifty day moving average price is $95.76 and its 200 day moving average price is $94.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 0.74. The stock has a market cap of $9.19 billion, a P/E ratio of 26.03 and a beta of 0.70.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Toro had a net margin of 7.64% and a return on equity of 31.86%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS. Toro has set its FY 2026 guidance at 4.600-4.650 EPS. Sell-side analysts forecast that Toro Company will post 4.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Toro news, COO Edric Funk sold 527 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $97.97, for a total value of $51,630.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,528 shares of company stock worth $149,175. Insiders own 1.88% of the company’s stock.

Institutional Trading of Toro

Several institutional investors have recently modified their holdings of the business. Rothschild Investment LLC boosted its position in shares of Toro by 6.0% in the 4th quarter. Rothschild Investment LLC now owns 3,609 shares of the company’s stock worth $284,000 after purchasing an additional 203 shares in the last quarter. Essential Partners LLC increased its position in Toro by 2.3% during the 1st quarter. Essential Partners LLC now owns 10,519 shares of the company’s stock valued at $983,000 after buying an additional 233 shares in the last quarter. GAMMA Investing LLC raised its stake in Toro by 8.4% during the second quarter. GAMMA Investing LLC now owns 4,550 shares of the company’s stock valued at $443,000 after buying an additional 351 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new position in Toro during the first quarter valued at $39,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Toro by 237.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 769 shares of the company’s stock worth $75,000 after acquiring an additional 541 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

About Toro

The Toro Company (NYSE:TTC) is a Minnesota-based manufacturer of equipment and solutions for maintaining outdoor environments. Founded in 1914, the company serves professional and residential customers through products sold under brands including Toro, Exmark, and BOSS.

Toro’s product portfolio includes turf and landscape maintenance equipment, commercial and residential lawn mowers, irrigation systems, outdoor lighting, utility vehicles, compact utility loaders, and equipment for snow and ice management.