Toro Company (The) (NYSE:TTC) Announces Quarterly Dividend of $0.39

Toro Company (The) (NYSE:TTC) announced a quarterly dividend on Tuesday, December 9th. Investors of record on Monday, December 22nd will be given a dividend of 0.39 per share on Monday, January 12th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, December 22nd. This is a 2.6% increase from Toro’s previous quarterly dividend of $0.38.

Toro has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Toro has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Toro to earn $4.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 32.5%.

Toro Price Performance

NYSE TTC opened at $71.97 on Wednesday. The stock has a 50-day simple moving average of $72.90 and a 200 day simple moving average of $74.47. The stock has a market capitalization of $7.04 billion, a PE ratio of 21.71 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.79 and a current ratio of 1.88. Toro has a twelve month low of $62.34 and a twelve month high of $89.50.

Analyst Ratings Changes

TTC has been the subject of a number of research analyst reports. Longbow Research raised shares of Toro from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, August 25th. Robert W. Baird upped their target price on Toro from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. DA Davidson lifted their price target on shares of Toro from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Toro in a report on Wednesday, October 8th. Finally, Northland Securities raised their price objective on shares of Toro from $80.00 to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, September 9th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.60.

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.