Price T Rowe Associates Inc. MD cut its stake in The Toro Company (NYSE:TTC - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,786,606 shares of the company's stock after selling 598,415 shares during the quarter. Price T Rowe Associates Inc. MD owned about 8.73% of Toro worth $703,808,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its holdings in Toro by 95.2% in the 4th quarter. Hsbc Holdings PLC now owns 76,085 shares of the company's stock valued at $6,109,000 after purchasing an additional 37,107 shares during the period. IHT Wealth Management LLC raised its position in shares of Toro by 7.9% in the fourth quarter. IHT Wealth Management LLC now owns 3,287 shares of the company's stock worth $263,000 after buying an additional 240 shares in the last quarter. Stifel Financial Corp boosted its stake in Toro by 20.3% during the fourth quarter. Stifel Financial Corp now owns 274,847 shares of the company's stock valued at $22,015,000 after buying an additional 46,353 shares during the period. OneDigital Investment Advisors LLC grew its position in Toro by 9.8% during the fourth quarter. OneDigital Investment Advisors LLC now owns 12,965 shares of the company's stock worth $1,038,000 after buying an additional 1,159 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Toro by 136.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,116 shares of the company's stock worth $490,000 after acquiring an additional 3,529 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.
Toro Trading Down 0.9 %
Toro stock traded down $0.62 during trading hours on Wednesday, reaching $67.92. The company had a trading volume of 78,403 shares, compared to its average volume of 971,384. 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 Toro Company has a 12-month low of $62.34 and a 12-month high of $100.93. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 16.94 and a beta of 0.72. The company has a 50-day moving average price of $71.90 and a 200 day moving average price of $79.12.
Toro Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.24%. Toro's payout ratio is presently 38.87%.
Analysts Set New Price Targets
Several research analysts have recently commented on TTC shares. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Robert W. Baird cut their price target on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Northland Securities upgraded shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective on the stock in a research report on Monday, February 24th. DA Davidson cut their target price 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, StockNews.com cut Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $89.75.
Check Out Our Latest Analysis on Toro
About Toro
(
Free Report)
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.
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