Commerce Bank Sells 6,255 Shares of The Toro Company (NYSE:TTC)

Commerce Bank decreased its holdings in shares of The Toro Company (NYSE:TTC - Free Report) by 50.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,217 shares of the company's stock after selling 6,255 shares during the quarter. Commerce Bank's holdings in Toro were worth $498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTC. Asset Planning Inc acquired a new stake in shares of Toro in the fourth quarter worth $31,000. CIBC Private Wealth Group LLC grew its position in Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC grew its position in Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after purchasing an additional 362 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Toro by 54.6% during the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after buying an additional 285 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Toro by 60.5% in the fourth quarter. Covestor Ltd now owns 1,181 shares of the company's stock valued at $95,000 after buying an additional 445 shares during the period. Institutional investors and hedge funds own 87.95% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on TTC shares. DA Davidson cut their price target on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. StockNews.com lowered shares of Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Robert W. Baird reduced their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, Northland Securities upgraded shares of 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 investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.75.

Toro Stock Performance

Toro stock opened at $67.25 on Thursday. 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 stock has a fifty day moving average price of $72.96 and a two-hundred day moving average price of $79.56. The firm has a market capitalization of $6.71 billion, a P/E ratio of 16.77 and a beta of 0.72.

Toro Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, March 31st. Toro's dividend payout ratio is currently 38.87%.

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.

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