Toro (NYSE:TTC) Trading Up 2.9% After Dividend Announcement

Shares of Toro Company (The) (NYSE:TTC) rose 2.9% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $97.25 and last traded at $97.2370. 61,530 shares changed hands during 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. Investors of record on Tuesday, October 6th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, October 6th. Toro’s payout ratio is 41.71%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TTC. Weiss Ratings raised Toro from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Robert W. Baird lowered their target price on Toro from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Wall Street Zen lowered Toro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. DA Davidson decreased their price target on Toro from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Finally, Oppenheimer began coverage on Toro in a report on Wednesday. They issued an “outperform” rating and a $120.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $111.67.

Toro Stock Performance

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

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

Insiders Place Their Bets

In other Toro news, COO Edric Funk sold 856 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $97.97, for a total value of $83,862.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,528 shares of company stock worth $149,175 in the last 90 days. Insiders own 1.88% of the company’s stock.

Institutional Trading of Toro

A number of large investors have recently bought and sold shares of the business. Baird Financial Group Inc. boosted its holdings in shares of Toro by 4,227.0% during the 2nd quarter. Baird Financial Group Inc. now owns 175,893 shares of the company’s stock worth $17,135,000 after buying an additional 171,828 shares during the period. Corient Private Wealth LP raised its holdings in Toro by 1,063.5% in the 2nd quarter. Corient Private Wealth LP now owns 187,982 shares of the company’s stock valued at $18,314,000 after acquiring an additional 171,826 shares during the period. SG Americas Securities LLC lifted its position in Toro by 416.7% during the first quarter. SG Americas Securities LLC now owns 68,455 shares of the company’s stock worth $6,396,000 after acquiring an additional 55,206 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in Toro by 379.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 55,630 shares of the company’s stock worth $4,379,000 after acquiring an additional 44,030 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in shares of Toro by 73.9% during the second quarter. Engineers Gate Manager LP now owns 75,330 shares of the company’s stock worth $7,339,000 after acquiring an additional 32,003 shares during the period. 87.95% of the stock is owned by institutional investors.

Toro Company Profile

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.