Alliancebernstein L.P. reduced its position in shares of The Toro Company (NYSE:TTC - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,115 shares of the company's stock after selling 3,820 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of Toro worth $11,063,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in 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 buying an additional 29,105 shares in the last quarter. Bank of New York Mellon Corp increased its position in 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 purchasing an additional 60,068 shares in the last quarter. Amundi boosted its position in Toro by 30.3% in the fourth quarter. Amundi now owns 1,121,116 shares of the company's stock valued at $89,701,000 after buying an additional 260,746 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of Toro by 3.6% during the fourth quarter. King Luther Capital Management Corp now owns 1,043,833 shares of the company's stock worth $83,611,000 after buying an additional 36,750 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Toro by 3.2% during the fourth quarter. US Bancorp DE now owns 799,385 shares of the company's stock worth $64,031,000 after buying an additional 24,596 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.
Toro Trading Down 0.7 %
Shares of NYSE:TTC traded down $0.51 during trading on Tuesday, reaching $67.83. The stock had a trading volume of 187,095 shares, compared to its average volume of 969,580. The Toro Company has a 52 week low of $62.34 and a 52 week high of $100.93. The firm's fifty day moving average is $74.82 and its 200 day moving average is $80.41. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 16.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.
Toro Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, March 31st. Toro's dividend payout ratio (DPR) is presently 38.87%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on TTC. DA Davidson reduced their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a research note on Monday, February 24th. Raymond James dropped their price objective on shares of Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. StockNews.com lowered shares of Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Finally, Robert W. Baird dropped their price target on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.75.
View Our Latest Stock Report on TTC
About Toro
(
Free Report)
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.
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