The Toro Company (NYSE:TTC) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in shares of The Toro Company (NYSE:TTC - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,786,606 shares of the company's stock after selling 598,415 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 8.73% of Toro worth $703,808,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC grew its position in shares of Toro by 33.6% in the fourth quarter. LPL Financial LLC now owns 57,435 shares of the company's stock valued at $4,601,000 after purchasing an additional 14,433 shares during the period. Assenagon Asset Management S.A. grew its holdings in Toro by 294.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,652 shares of the company's stock valued at $1,975,000 after buying an additional 18,401 shares during the period. Quantbot Technologies LP increased its stake in shares of Toro by 111.4% during the 4th quarter. Quantbot Technologies LP now owns 51,945 shares of the company's stock valued at $4,161,000 after acquiring an additional 27,376 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Toro by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company's stock worth $95,123,000 after acquiring an additional 60,068 shares during the period. Finally, Bell Asset Management Ltd boosted its position in shares of Toro by 72.4% in the fourth quarter. Bell Asset Management Ltd now owns 77,756 shares of the company's stock worth $6,228,000 after acquiring an additional 32,661 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Stock Down 0.4 %

TTC traded down $0.26 during trading hours on Tuesday, reaching $68.48. 482,345 shares of the stock traded hands, compared to its average volume of 971,447. The Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 17.08 and a beta of 0.72. 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 firm's fifty day simple moving average is $72.16 and its two-hundred day simple moving average is $79.19.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Stockholders 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 dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, March 31st. Toro's payout ratio is 38.87%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird dropped 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 Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. StockNews.com downgraded shares of Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. DA Davidson cut their target price on shares of Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Northland Securities raised shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target for the company in a research report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, two have given 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 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.