State of Tennessee Department of Treasury Reduces Position in The Toro Company (NYSE:TTC)

State of Tennessee Department of Treasury reduced its position in The Toro Company (NYSE:TTC) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 32,539 shares of the company’s stock after selling 2,394 shares during the period. State of Tennessee Department of Treasury’s holdings in Toro were worth $2,606,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TTC. Virtu Financial LLC purchased a new position in shares of Toro during the third quarter worth approximately $592,000. SkyView Investment Advisors LLC increased its holdings in Toro by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 10,168 shares of the company’s stock worth $882,000 after purchasing an additional 298 shares during the period. Tidal Investments LLC raised its position in Toro by 79.2% during the 3rd quarter. Tidal Investments LLC now owns 17,646 shares of the company’s stock valued at $1,530,000 after purchasing an additional 7,798 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Toro by 27.8% in the 3rd quarter. Franklin Resources Inc. now owns 47,912 shares of the company’s stock worth $3,989,000 after buying an additional 10,409 shares during the period. Finally, Everence Capital Management Inc. bought a new position in shares of Toro during the 4th quarter worth $208,000. Institutional investors own 87.95% of the company’s stock.

Toro Price Performance

Shares of NYSE TTC opened at $68.02 on Monday. 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 50 day simple moving average is $72.44 and its 200-day simple moving average is $79.29. The Toro Company has a 12 month low of $62.34 and a 12 month high of $100.93. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 16.96 and a beta of 0.72.

Toro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Monday, March 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Monday, March 31st. Toro’s payout ratio is 38.87%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TTC shares. Robert W. Baird dropped their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, February 24th. StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. DA Davidson cut their price target on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.