The Toro Company (NYSE:TTC) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in The Toro Company (NYSE:TTC - Free Report) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,605 shares of the company's stock after selling 4,506 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Toro worth $4,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Toro by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company's stock valued at $169,639,000 after purchasing an additional 29,105 shares during the period. Bank of New York Mellon Corp increased its stake in Toro by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company's stock valued at $95,123,000 after buying an additional 60,068 shares during the period. Amundi raised its position in Toro by 30.3% during the 4th 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 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 worth $83,611,000 after acquiring an additional 36,750 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Toro by 3.2% in the fourth quarter. US Bancorp DE now owns 799,385 shares of the company's stock valued at $64,031,000 after acquiring an additional 24,596 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

TTC has been the subject of several analyst reports. DA Davidson cut their price target on shares of Toro from $86.00 to $80.00 and set a "neutral" rating for the company 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. Robert W. Baird decreased their price target on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. StockNews.com lowered Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Finally, Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a report on Monday, February 24th. Three 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $89.75.

Toro Price Performance

Shares of TTC traded down $2.09 on Friday, reaching $65.63. The stock had a trading volume of 1,467,914 shares, compared to its average volume of 960,027. The firm has a 50-day moving average of $77.56 and a 200 day moving average of $81.50. The firm has a market capitalization of $6.55 billion, a PE ratio of 16.37 and a beta of 0.72. The Toro Company has a twelve month low of $63.71 and a twelve month high of $100.93. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors 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 dividend on an annualized basis and a yield of 2.32%. Toro's payout ratio is 38.87%.

Toro announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Toro Company Profile

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.