Parallel Advisors LLC Sells 7,070 Shares of The Toro Company (NYSE:TTC)

Parallel Advisors LLC cut its position in The Toro Company (NYSE:TTC - Free Report) by 19.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,553 shares of the company's stock after selling 7,070 shares during the quarter. Parallel Advisors LLC's holdings in Toro were worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in Toro by 45.5% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock valued at $563,207,000 after purchasing an additional 2,199,920 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Toro by 996,664.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company's stock valued at $39,410,000 after acquiring an additional 498,332 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Toro during the fourth quarter worth about $36,561,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Toro by 411.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 464,609 shares of the company's stock worth $37,215,000 after purchasing an additional 373,736 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Toro by 693.0% in the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock worth $33,238,000 after purchasing an additional 362,634 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird increased their price target on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Wall Street Zen downgraded shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. DA Davidson cut their price target on shares of Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective on the stock in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $90.00.

Toro Trading Up 2.7%

NYSE:TTC traded up $2.01 during midday trading on Tuesday, reaching $76.64. 1,108,548 shares of the stock traded hands, compared to its average volume of 952,926. The stock has a market capitalization of $7.65 billion, a P/E ratio of 19.11 and a beta of 0.83. The Toro Company has a 12 month low of $62.34 and a 12 month high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The company has a fifty day moving average of $70.95 and a 200 day moving average of $77.58.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.98%. Toro's dividend payout ratio is currently 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.