Legal & General Group Plc Lowers Position in The Toro Company (NYSE:TTC)

Legal & General Group Plc cut its stake in The Toro Company (NYSE:TTC - Free Report) by 35.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 330,771 shares of the company's stock after selling 178,404 shares during the period. Legal & General Group Plc owned 0.33% of Toro worth $26,495,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Asset Planning Inc bought a new stake in shares of Toro during the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC lifted its position in Toro by 195.7% during the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock valued at $44,000 after buying an additional 362 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of 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 buying an additional 127 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock worth $65,000 after buying an additional 285 shares during the period. Finally, PrairieView Partners LLC increased its stake in shares of Toro by 14.7% in the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company's stock worth $123,000 after acquiring an additional 198 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. DA Davidson lowered their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Raymond James dropped their target price on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Finally, StockNews.com lowered shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Toro presently has an average rating of "Moderate Buy" and an average price target of $89.75.

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Toro Stock Performance

TTC traded down $0.94 during midday trading on Wednesday, hitting $66.52. 874,118 shares of the company traded hands, compared to its average volume of 972,164. The company's 50-day moving average is $74.55 and its 200 day moving average is $80.32. The Toro Company has a 52 week low of $62.34 and a 52 week high of $100.93. The firm has a market capitalization of $6.64 billion, a PE ratio of 16.59 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Monday, March 31st. Toro's dividend payout ratio (DPR) is presently 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.