Commerce Bank Reduces Stake in The Toro Company (NYSE:TTC)

Commerce Bank lessened its position in The Toro Company (NYSE:TTC - Free Report) by 50.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,217 shares of the company's stock after selling 6,255 shares during the quarter. Commerce Bank's holdings in Toro were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TTC. Asset Planning Inc purchased a new position in shares of Toro in the 4th quarter worth about $31,000. CIBC Private Wealth Group LLC boosted its position in Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after buying an additional 362 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Toro by 54.6% during the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after purchasing an additional 285 shares during the period. Finally, Covestor Ltd lifted its position in shares of Toro by 60.5% during the 4th quarter. Covestor Ltd now owns 1,181 shares of the company's stock valued at $95,000 after buying an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TTC shares. Robert W. Baird decreased their target price on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. DA Davidson lowered their target price on shares of Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. StockNews.com downgraded shares of Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Toro has an average rating of "Moderate Buy" and a consensus price target of $89.75.

Toro Price Performance

Shares of Toro stock traded down $0.01 during trading on Tuesday, reaching $68.74. 86,938 shares of the stock traded hands, compared to its average volume of 969,687. The Toro Company has a 52-week low of $62.34 and a 52-week high of $100.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The business has a fifty day simple moving average of $72.16 and a two-hundred day simple moving average of $79.19. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 17.16 and a beta of 0.72.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.21%. Toro's dividend payout ratio (DPR) is 38.87%.

About Toro

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.