Raymond James Financial Inc. Takes $36.56 Million Position in The Toro Company (NYSE:TTC)

Raymond James Financial Inc. bought a new position in The Toro Company (NYSE:TTC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 456,442 shares of the company's stock, valued at approximately $36,561,000. Raymond James Financial Inc. owned about 0.45% of Toro at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TTC. LPL Financial LLC grew its position in shares of Toro by 33.6% in the 4th quarter. LPL Financial LLC now owns 57,435 shares of the company's stock worth $4,601,000 after buying an additional 14,433 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Toro by 294.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,652 shares of the company's stock worth $1,975,000 after acquiring an additional 18,401 shares during the period. Quantbot Technologies LP boosted its holdings in Toro by 111.4% in the fourth quarter. Quantbot Technologies LP now owns 51,945 shares of the company's stock valued at $4,161,000 after acquiring an additional 27,376 shares in the last quarter. Bank of New York Mellon Corp increased its position in Toro by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company's stock valued at $95,123,000 after purchasing an additional 60,068 shares during the period. Finally, Bell Asset Management Ltd raised its holdings in Toro by 72.4% in the 4th quarter. Bell Asset Management Ltd now owns 77,756 shares of the company's stock worth $6,228,000 after purchasing an additional 32,661 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTC. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. DA Davidson reduced their target price on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Northland Securities raised 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. Robert W. Baird dropped their price target on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.75.

Toro Stock Up 1.6 %

Shares of TTC traded up $1.03 during mid-day trading on Tuesday, reaching $66.87. The company had a trading volume of 1,153,344 shares, compared to its average volume of 977,278. 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 quick ratio of 0.74 and a current ratio of 1.81. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 16.68 and a beta of 0.72. The firm has a 50-day moving average price of $73.23 and a 200 day moving average price of $79.65.

Toro Dividend Announcement

The business also recently declared 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 2.27%. Toro's payout ratio is presently 38.87%.

Toro Company 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.