Raymond James Financial Inc. Makes New $36.56 Million Investment in The Toro Company (NYSE:TTC)

Raymond James Financial Inc. bought a new position in shares of The Toro Company (NYSE:TTC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 456,442 shares of the company's stock, valued at approximately $36,561,000. Raymond James Financial Inc. owned 0.45% of Toro at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in Toro by 996,664.0% in the fourth 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 last quarter. Victory Capital Management Inc. grew its stake in Toro by 693.0% in the 4th quarter. Victory Capital Management Inc. now owns 414,961 shares of the company's stock valued at $33,238,000 after acquiring an additional 362,634 shares during the last quarter. Amundi grew its stake in Toro by 30.3% in the 4th quarter. Amundi now owns 1,121,116 shares of the company's stock valued at $89,701,000 after acquiring an additional 260,746 shares during the last quarter. Norges Bank purchased a new position in Toro during the 4th quarter valued at about $12,379,000. Finally, Sei Investments Co. raised its position in Toro by 54.5% during the fourth quarter. Sei Investments Co. now owns 212,972 shares of the company's stock worth $17,059,000 after acquiring an additional 75,147 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TTC. StockNews.com cut Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. DA Davidson dropped their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. 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. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Finally, Robert W. Baird reduced their price objective on shares of Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Three 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.75.

Toro Stock Up 0.1 %

TTC stock traded up $0.05 during midday trading on Tuesday, hitting $65.89. 86,754 shares of the company's stock were exchanged, compared to its average volume of 1,083,659. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 16.44 and a beta of 0.72. 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 50 day moving average price of $73.49 and a 200-day moving average price of $79.74. The Toro Company has a 12-month low of $62.34 and a 12-month high of $100.93.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were paid a dividend of $0.38 per share. The ex-dividend date was Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.31%. Toro's dividend payout ratio (DPR) is 38.87%.

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.