Comerica Bank Increases Stock Holdings in The Toro Company (NYSE:TTC)

Comerica Bank boosted its stake in The Toro Company (NYSE:TTC - Free Report) by 10.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,462 shares of the company's stock after buying an additional 5,183 shares during the quarter. Comerica Bank owned approximately 0.06% of Toro worth $4,443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Toro by 2,603.4% in the 4th quarter. AQR Capital Management LLC now owns 152,824 shares of the company's stock worth $12,241,000 after buying an additional 147,171 shares during the last quarter. AdvisorShares Investments LLC bought a new stake in Toro during the fourth quarter worth $457,000. Northern Trust Corp boosted its position in Toro by 36.9% in the fourth quarter. Northern Trust Corp now owns 1,081,782 shares of the company's stock worth $86,651,000 after purchasing an additional 291,593 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Toro by 411.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 464,609 shares of the company's stock valued at $37,215,000 after purchasing an additional 373,736 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Toro during the 4th quarter valued at $451,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TTC has been the topic of a number of research analyst reports. Robert W. Baird cut their price target on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. StockNews.com cut shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. DA Davidson reduced 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. Northland Securities raised shares of 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. Finally, Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $89.75.

Toro Stock Performance

Shares of TTC traded up $0.59 during trading hours on Friday, hitting $72.38. The company's stock had a trading volume of 702,002 shares, compared to its average volume of 978,681. The business has a 50 day simple moving average of $70.47 and a two-hundred day simple moving average of $78.37. 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 company has a market cap of $7.22 billion, a price-to-earnings ratio of 18.05 and a beta of 0.83.

Toro Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.10%. Toro's dividend payout ratio is 38.87%.

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.