Bank of America Corp DE Has $17.93 Million Position in The Toro Company (NYSE:TTC)

Bank of America Corp DE cut its stake in shares of The Toro Company (NYSE:TTC) by 56.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,873 shares of the company’s stock after selling 284,591 shares during the quarter. Bank of America Corp DE owned approximately 0.22% of Toro worth $17,932,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Asset Planning Inc bought a new position in shares of Toro during the 4th quarter worth about $31,000. Venturi Wealth Management LLC raised its stake 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 buying an additional 362 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after acquiring an additional 127 shares in the last quarter. First Horizon Advisors Inc. grew 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 acquiring an additional 285 shares during the period. Finally, Covestor Ltd grew its stake in Toro by 60.5% in the fourth quarter. Covestor Ltd now owns 1,181 shares of the company’s stock valued at $95,000 after acquiring an additional 445 shares during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Price Performance

Shares of NYSE:TTC opened at $76.78 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The stock has a market cap of $7.66 billion, a PE ratio of 19.15 and a beta of 0.83. The stock’s fifty day simple moving average is $70.69 and its two-hundred day simple moving average is $78.16. The Toro Company has a 1-year low of $62.34 and a 1-year high of $100.93.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.98%. Toro’s dividend payout ratio (DPR) is presently 38.87%.

Analyst Ratings Changes

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