Resona Asset Management Co. Ltd. Invests $2.42 Million in The Toro Company (NYSE:TTC)

Resona Asset Management Co. Ltd. acquired a new stake in The Toro Company (NYSE:TTC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 30,140 shares of the company's stock, valued at approximately $2,418,000.

A number of other hedge funds have also recently modified their holdings of TTC. Geode Capital Management LLC raised its position in Toro by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company's stock valued at $169,639,000 after acquiring an additional 29,105 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 during the period. Amundi increased its holdings in shares of Toro by 30.3% during the 4th quarter. Amundi now owns 1,121,116 shares of the company's stock valued at $89,701,000 after purchasing an additional 260,746 shares in the last quarter. King Luther Capital Management Corp lifted its stake in shares of Toro by 3.6% in the 4th quarter. King Luther Capital Management Corp now owns 1,043,833 shares of the company's stock valued at $83,611,000 after purchasing an additional 36,750 shares during the period. Finally, US Bancorp DE boosted its holdings in Toro by 3.2% during the fourth quarter. US Bancorp DE now owns 799,385 shares of the company's stock worth $64,031,000 after buying an additional 24,596 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Price Performance

TTC stock traded down $0.77 during trading on Tuesday, hitting $67.57. The stock had a trading volume of 203,843 shares, compared to its average volume of 969,622. The Toro Company has a twelve month low of $62.34 and a twelve month high of $100.93. The company's 50-day moving average price is $74.82 and its two-hundred day moving average price is $80.41. 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 stock has a market capitalization of $6.74 billion, a P/E ratio of 16.85 and a beta of 0.72.

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Toro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, March 31st. Toro's dividend payout ratio is presently 38.87%.

Analyst Upgrades and Downgrades

TTC has been the subject of a number of analyst reports. StockNews.com downgraded shares of Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Robert W. Baird reduced their price target on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, March 7th. DA Davidson dropped their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price on the stock in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Toro currently has an average rating of "Moderate Buy" and a consensus target price of $89.75.

About Toro

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.