American Research & Management Co. raised its position in shares of The Toro Company (NYSE:TTC) by 3.8% in the 1st quarter, Holdings Channel reports. The firm owned 4,750 shares of the company’s stock after acquiring an additional 175 shares during the period. American Research & Management Co.’s holdings in The Toro were worth $490,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TTC. Norges Bank acquired a new position in shares of The Toro during the fourth quarter worth $91,258,000. Victory Capital Management Inc. increased its holdings in shares of The Toro by 104.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,649,355 shares of the company’s stock worth $156,425,000 after buying an additional 842,923 shares in the last quarter. FMR LLC increased its holdings in shares of The Toro by 105.2% during the first quarter. FMR LLC now owns 724,513 shares of the company’s stock worth $49,875,000 after buying an additional 371,518 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of The Toro during the fourth quarter worth $23,285,000. Finally, Schroder Investment Management Group increased its holdings in shares of The Toro by 133.9% during the fourth quarter. Schroder Investment Management Group now owns 363,068 shares of the company’s stock worth $34,433,000 after buying an additional 207,846 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.
NYSE TTC traded down $0.21 on Thursday, reaching $104.59. The company had a trading volume of 2,137 shares, compared to its average volume of 432,064. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 34.51, a P/E/G ratio of 2.68 and a beta of 0.73. The Toro Company has a fifty-two week low of $57.89 and a fifty-two week high of $107.24. The business has a 50 day moving average of $101.84 and a two-hundred day moving average of $93.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.67 and a quick ratio of 0.91.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 20th. Shareholders of record on Monday, April 5th will be given a dividend of $0.2625 per share. The ex-dividend date is Thursday, April 1st. This represents a $1.05 dividend on an annualized basis and a yield of 1.00%. The Toro’s dividend payout ratio (DPR) is currently 34.77%.
TTC has been the subject of several research analyst reports. Bank of America initiated coverage on shares of The Toro in a report on Monday, January 4th. They set a “neutral” rating and a $102.00 price target for the company. Zacks Investment Research downgraded The Toro from a “buy” rating to a “hold” rating in a report on Saturday, March 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $101.33.
In other news, VP Blake M. Grams sold 16,100 shares of the firm’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $99.26, for a total value of $1,598,086.00. Following the completion of the sale, the vice president now directly owns 10,600 shares in the company, valued at approximately $1,052,156. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Katherine J. Harless sold 1,152 shares of the firm’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $104.16, for a total value of $119,992.32. Following the completion of the sale, the director now owns 71,669 shares of the company’s stock, valued at $7,465,043.04. The disclosure for this sale can be found here. Insiders have sold 33,660 shares of company stock worth $3,404,841 in the last ninety days. Insiders own 1.77% of the company’s stock.
The Toro Company Profile
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, 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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