Tower Research Capital LLC TRC Boosts Position in The Toro Company (NYSE:TTC)

Tower Research Capital LLC TRC increased its position in shares of The Toro Company (NYSE:TTC) by 136.4% during the 4th quarter, HoldingsChannel reports. The fund owned 6,116 shares of the company’s stock after acquiring an additional 3,529 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Toro were worth $490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TTC. Virtu Financial LLC purchased a new stake in shares of Toro in the 3rd quarter valued at approximately $592,000. SkyView Investment Advisors LLC grew its position in Toro by 3.0% in the third quarter. SkyView Investment Advisors LLC now owns 10,168 shares of the company’s stock worth $882,000 after acquiring an additional 298 shares during the period. Tidal Investments LLC increased its stake in Toro by 79.2% during the third quarter. Tidal Investments LLC now owns 17,646 shares of the company’s stock worth $1,530,000 after acquiring an additional 7,798 shares during the last quarter. Franklin Resources Inc. raised its position in Toro by 27.8% in the third quarter. Franklin Resources Inc. now owns 47,912 shares of the company’s stock valued at $3,989,000 after purchasing an additional 10,409 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in shares of Toro in the 4th quarter valued at $208,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Price Performance

Shares of TTC opened at $68.50 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The company has a market cap of $6.84 billion, a P/E ratio of 17.08 and a beta of 0.72. The firm’s 50 day moving average price is $71.90 and its 200 day moving average price is $79.12.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Monday, March 31st were paid a dividend of $0.38 per share. The ex-dividend date was Monday, March 31st. This represents a $1.52 annualized dividend and a yield of 2.22%. Toro’s payout ratio is 38.87%.

Wall Street Analysts Forecast Growth

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