The Toro Company (NYSE:TTC) Shares Sold by Huntington National Bank

Huntington National Bank lessened its position in shares of The Toro Company (NYSE:TTC) by 5.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,909 shares of the company’s stock after selling 160 shares during the quarter. Huntington National Bank’s holdings in Toro were worth $233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in shares of Toro during the fourth quarter worth approximately $31,000. CIBC Private Wealth Group LLC boosted its stake in Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after purchasing an additional 127 shares during the period. Venturi Wealth Management LLC grew its position in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after purchasing an additional 362 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the period. Finally, PrairieView Partners LLC raised its holdings in shares of Toro by 14.7% in the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company’s stock valued at $123,000 after buying an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TTC. Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. DA Davidson lowered their target price on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird cut their price target on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research report on Monday, February 24th. Finally, Raymond James cut their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Three investment 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.75.

Toro Stock Down 3.1 %

TTC opened at $65.63 on Friday. The business has a 50 day simple moving average of $77.56 and a 200-day simple moving average of $81.50. The Toro Company has a 12 month low of $63.71 and a 12 month high of $100.93. The stock has a market capitalization of $6.55 billion, a P/E ratio of 16.37 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.38 per share. The ex-dividend date is Monday, March 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.32%. Toro’s payout ratio is currently 38.87%.

Toro announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

About Toro

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.