Invesco Ltd. Decreases Holdings in The Toro Company (NYSE:TTC)

Invesco Ltd. lowered its position in shares of The Toro Company (NYSE:TTC - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,557,180 shares of the company's stock after selling 31,396 shares during the period. Invesco Ltd. owned 1.55% of Toro worth $124,730,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Toro by 996,664.0% in the 4th 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. purchased a new stake in shares of Toro in the 4th quarter valued at about $36,561,000. Victory Capital Management Inc. grew its stake in Toro by 693.0% during the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock worth $33,238,000 after buying an additional 362,634 shares during the last quarter. Amundi increased its position in Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company's stock worth $89,701,000 after buying an additional 260,746 shares during the period. Finally, Norges Bank purchased a new stake in Toro in the fourth quarter valued at approximately $12,379,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Stock Performance

TTC traded up $0.59 during trading on Friday, reaching $67.09. The company's stock had a trading volume of 668,017 shares, compared to its average volume of 972,294. 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's fifty day moving average price is $74.02 and its 200-day moving average price is $80.09. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 16.73 and a beta of 0.72. The Toro Company has a 52-week low of $62.34 and a 52-week high of $100.93.

Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Monday, March 31st. Toro's dividend payout ratio (DPR) is currently 38.87%.

Analyst Ratings Changes

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

Toro 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.