5 Best Hardware Stocks to Buy Now

3. The Toro Company (NYSE: TTC)

Number of Hedge Fund Holders: 31

The Toro Company (NYSE: TTC) is a Minnesota-based firm that makes maintenance equipment, snow removal products, and supplies for irrigation systems. The company sells to both commercial and residential customers. The tools made by the firm are used in gardens, public parks, golf courses, sports fields, and agricultural fields. Toro was founded in 1914 and is ranked third on our list of 10 best hardware stocks to buy now. The firm also has a digital presence for selling the tools it manufactures. 

On March 16, The Toro Company (NYSE: TTC) declared a quarterly dividend of $0.26 per share, in line with previous estimates. Earlier in March, Toro had announced that it would be acquiring Left Hand Robotics, a firm making autonomous equipment for turf and snow management, for an undisclosed fee.  

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Select Equity Group is a leading shareholder in the firm with 5.9 million shares worth more than $563 billion.