Franklin Resources Inc. Purchases 17,525 Shares of The Toro Company (NYSE:TTC)

Franklin Resources Inc. grew its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 36.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,437 shares of the company's stock after buying an additional 17,525 shares during the quarter. Franklin Resources Inc. owned 0.07% of Toro worth $5,242,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TTC. O Shaughnessy Asset Management LLC boosted its position in Toro by 7.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,116 shares of the company's stock valued at $1,051,000 after buying an additional 879 shares during the period. Brandywine Global Investment Management LLC bought a new position in Toro during the 4th quarter valued at approximately $1,734,000. CIBC Private Wealth Group LLC increased its stake in Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock valued at $43,000 after purchasing an additional 127 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toro in the 4th quarter worth $4,421,000. Finally, Allstate Corp bought a new position in Toro during the 4th quarter valued at about $253,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Price Performance

Toro stock traded down $0.96 during mid-day trading on Wednesday, hitting $66.50. The stock had a trading volume of 123,627 shares, compared to its average volume of 969,318. The Toro Company has a one year low of $62.34 and a one year high of $100.93. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $6.64 billion, a P/E ratio of 16.58 and a beta of 0.72. The firm's 50 day moving average is $74.55 and its 200 day moving average is $80.32.

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Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend 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 research analyst reports. Raymond James cut their price objective on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. Robert W. Baird cut their price target on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. 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 note on Monday, February 24th. StockNews.com cut shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Finally, Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Three 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, Toro currently has an average rating of "Moderate Buy" and an average price target 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.