Geode Capital Management LLC reduced its holdings in The Toro Company (NYSE:TTC - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,913,673 shares of the company's stock after selling 46,202 shares during the quarter. Geode Capital Management LLC owned about 1.90% of Toro worth $153,028,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in Toro by 996,664.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 498,382 shares of the company's stock valued at $39,410,000 after purchasing an additional 498,332 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Toro during the fourth quarter valued at about $36,561,000. Victory Capital Management Inc. raised its stake in Toro by 693.0% in the fourth quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock worth $33,238,000 after buying an additional 362,634 shares in the last quarter. Amundi lifted its holdings in Toro by 30.3% in the fourth quarter. Amundi now owns 1,121,116 shares of the company's stock worth $89,701,000 after buying an additional 260,746 shares during the period. Finally, Norges Bank bought a new stake in Toro during the 4th quarter valued at approximately $12,379,000. Institutional investors own 87.95% of the company's stock.
Wall Street Analysts Forecast Growth
TTC has been the topic of several research reports. Raymond James dropped their price target on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th. 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 report on Monday, February 24th. StockNews.com lowered shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Robert W. Baird decreased their target price 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Toro has a consensus rating of "Moderate Buy" and an average price target of $89.75.
Check Out Our Latest Analysis on TTC
Toro Stock Up 2.1 %
Shares of TTC traded up $1.39 during trading hours on Friday, hitting $68.01. The company had a trading volume of 875,135 shares, compared to its average volume of 971,770. The Toro Company has a 52-week low of $62.34 and a 52-week high of $100.93. The firm has a fifty day moving average price of $75.07 and a 200-day moving average price of $80.58. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 16.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.
Toro Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.38 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.24%. Toro's dividend payout ratio is presently 38.87%.
Toro Company Profile
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Free Report)
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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