The Toro Company (NYSE:TTC) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its holdings in shares of The Toro Company (NYSE:TTC) by 19.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,553 shares of the company’s stock after selling 7,070 shares during the period. Parallel Advisors LLC’s holdings in Toro were worth $2,077,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Captrust Financial Advisors raised its holdings in Toro by 33.8% during the fourth quarter. Captrust Financial Advisors now owns 52,934 shares of the company’s stock worth $4,240,000 after purchasing an additional 13,373 shares in the last quarter. LPL Financial LLC raised its holdings in Toro by 33.6% during the fourth quarter. LPL Financial LLC now owns 57,435 shares of the company’s stock worth $4,601,000 after purchasing an additional 14,433 shares in the last quarter. Quantbot Technologies LP raised its holdings in Toro by 111.4% during the fourth quarter. Quantbot Technologies LP now owns 51,945 shares of the company’s stock worth $4,161,000 after purchasing an additional 27,376 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Toro by 5.3% during the fourth 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. Finally, Bell Asset Management Ltd raised its holdings in Toro by 72.4% during the fourth quarter. Bell Asset Management Ltd now owns 77,756 shares of the company’s stock worth $6,228,000 after purchasing an additional 32,661 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Trading Down 0.2%

Shares of TTC opened at $75.85 on Friday. 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 has a 50 day simple moving average of $70.96 and a 200-day simple moving average of $77.65. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 18.92 and a beta of 0.83.

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.00%. Toro’s dividend payout ratio (DPR) is 38.87%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. DA Davidson dropped their target price on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Monday, February 24th. Robert W. Baird dropped their target price on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Wall Street Zen cut shares of Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.75.

Toro Company 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.