Renaissance Technologies LLC Lowers Stock Position in The Toro Company (NYSE:TTC)

Renaissance Technologies LLC lowered its stake in The Toro Company (NYSE:TTC - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 261,300 shares of the company's stock after selling 26,300 shares during the period. Renaissance Technologies LLC owned approximately 0.26% of Toro worth $20,930,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LPL Financial LLC lifted its position in Toro by 33.6% in the fourth quarter. LPL Financial LLC now owns 57,435 shares of the company's stock valued at $4,601,000 after purchasing an additional 14,433 shares during the period. Assenagon Asset Management S.A. grew its holdings in Toro by 294.4% during 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 lifted 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 during the period. Bank of New York Mellon Corp boosted its position in shares of 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 worth $95,123,000 after purchasing an additional 60,068 shares in the last quarter. Finally, Bell Asset Management Ltd increased its holdings in shares of Toro by 72.4% in the 4th quarter. Bell Asset Management Ltd now owns 77,756 shares of the company's stock valued at $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 research analysts have issued reports on the stock. Raymond James dropped their target price on shares of Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. DA Davidson dropped their price target on 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 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. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Finally, Robert W. Baird dropped their price objective 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. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.75.

Toro Trading Up 0.9 %

TTC stock traded up $0.59 during midday trading on Friday, hitting $67.09. The stock had a trading volume of 668,017 shares, compared to its average volume of 972,294. 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 $6.70 billion, a PE ratio of 16.73 and a beta of 0.72. The company's 50-day moving average price is $74.02 and its 200 day moving average price is $80.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro Announces Dividend

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