The Toro Company (NYSE:TTC) Stake Cut by State Street Corp

State Street Corp reduced its stake in shares of The Toro Company (NYSE:TTC - Free Report) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,989,814 shares of the company's stock after selling 162,847 shares during the period. State Street Corp owned approximately 4.86% of Toro worth $434,534,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of Toro by 41.9% during the 2nd quarter. SG Americas Securities LLC now owns 10,837 shares of the company's stock worth $1,013,000 after purchasing an additional 3,202 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Toro by 32.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,150 shares of the company's stock worth $575,000 after buying an additional 1,510 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Toro by 29.5% in the second quarter. Assenagon Asset Management S.A. now owns 5,528 shares of the company's stock valued at $517,000 after acquiring an additional 1,258 shares in the last quarter. JLB & Associates Inc. boosted its stake in shares of Toro by 0.5% during the second quarter. JLB & Associates Inc. now owns 182,324 shares of the company's stock valued at $17,049,000 after acquiring an additional 896 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its stake in shares of Toro by 3.0% during the second quarter. Boston Trust Walden Corp now owns 325,053 shares of the company's stock valued at $30,396,000 after acquiring an additional 9,371 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TTC. Robert W. Baird reduced their target price on shares of Toro from $102.00 to $92.00 and set a "neutral" rating on the stock in a report on Friday, September 6th. StockNews.com upgraded shares of Toro from a "hold" rating to a "buy" rating in a research report on Monday, September 9th. Northland Securities reiterated a "market perform" rating and issued a $100.00 price target on shares of Toro in a report on Friday, September 6th. Finally, DA Davidson decreased their price objective on Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $93.33.

Toro Stock Down 0.3 %

Shares of NYSE TTC traded down $0.22 during trading on Tuesday, reaching $87.46. 631,211 shares of the stock were exchanged, compared to its average volume of 849,150. The business's 50-day moving average price is $84.02 and its 200 day moving average price is $87.83. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 23.01 and a beta of 0.70. The Toro Company has a twelve month low of $77.15 and a twelve month high of $102.00. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59.

Toro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 1.65%. Toro's payout ratio is currently 37.80%.

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.