Parallel Advisors LLC cut its holdings in Toro Company (The) (NYSE:TTC – Free Report) by 56.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,497 shares of the company’s stock after selling 5,804 shares during the period. Parallel Advisors LLC’s holdings in Toro were worth $420,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Toro by 37.4% in the first quarter. Goldman Sachs Group Inc. now owns 456,861 shares of the company’s stock worth $33,237,000 after purchasing an additional 124,373 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Toro by 4.4% during the fourth quarter. Van ECK Associates Corp now owns 258,444 shares of the company’s stock valued at $20,345,000 after purchasing an additional 10,835 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Toro by 0.3% during the fourth quarter. Russell Investments Group Ltd. now owns 125,625 shares of the company’s stock valued at $9,889,000 after buying an additional 410 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Toro by 416.7% during the first quarter. SG Americas Securities LLC now owns 68,455 shares of the company’s stock valued at $6,396,000 after buying an additional 55,206 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its position in shares of Toro by 425.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 64,783 shares of the company’s stock valued at $5,100,000 after buying an additional 52,457 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.
Toro Price Performance
NYSE TTC opened at $93.78 on Friday. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 27.02 and a beta of 0.68. Toro Company has a 1-year low of $67.64 and a 1-year high of $105.18. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.74. The business’s fifty day moving average price is $92.59 and its 200-day moving average price is $93.79.
Toro Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 16th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, June 16th. Toro’s dividend payout ratio (DPR) is presently 44.96%.
Insider Buying and Selling at Toro
In other news, COO Edric C. Funk sold 527 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $97.97, for a total value of $51,630.19. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gary Lee Ellis sold 4,951 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $91.91, for a total transaction of $455,046.41. Following the completion of the transaction, the director owned 35,297 shares in the company, valued at $3,244,147.27. This trade represents a 12.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,934 shares of company stock worth $1,204,933 in the last three months. 1.88% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Weiss Ratings lowered Toro from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Robert W. Baird dropped their price target on shares of Toro from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Toro presently has a consensus rating of “Hold” and an average target price of $101.75.
Check Out Our Latest Research Report on TTC
About Toro
The Toro Company (NYSE: TTC) specializes in the design, manufacture and marketing of a broad range of outdoor environment equipment for residential, commercial and professional markets. Its product portfolio includes lawn mowers, utility vehicles, snow throwers, irrigation systems and landscape maintenance equipment. Toro’s offerings span walk-behind and ride-on mowers, zero-turn radius mowers, snow blowers, sprinklers, drip irrigation products, spreaders and specialty turf maintenance machines tailored to golf courses, sports fields and municipal parks.
Founded in 1914 and headquartered in Bloomington, Minnesota, Toro has built a century-long legacy of innovation in the grounds-care industry.
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