Deutsche Bank AG Cuts Stake in The Toro Company (NYSE:TTC)

Deutsche Bank AG trimmed its holdings in shares of The Toro Company (NYSE:TTC - Free Report) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,400 shares of the company's stock after selling 6,824 shares during the period. Deutsche Bank AG owned 0.14% of Toro worth $11,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Toro Stock Down 1.2%

NYSE:TTC traded down $0.96 on Monday, hitting $76.84. The stock had a trading volume of 666,787 shares, compared to its average volume of 977,078. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The business's fifty day moving average is $70.52 and its 200 day moving average is $78.20. The Toro Company has a 52 week low of $62.34 and a 52 week high of $100.93. The company has a market cap of $7.67 billion, a PE ratio of 19.16 and a beta of 0.83.

Toro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Monday, March 31st. Toro's dividend payout ratio (DPR) is presently 38.87%.

Analyst Upgrades and Downgrades

TTC has been the subject of several analyst reports. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a report on Monday, February 24th. StockNews.com downgraded shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Robert W. Baird lowered their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, DA Davidson lowered their price objective 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. Three equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.