Mitsubishi UFJ Trust & Banking Corp Has $4.05 Million Stock Position in The Toro Company (NYSE:TTC)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of The Toro Company (NYSE:TTC) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,605 shares of the company’s stock after selling 4,506 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Toro worth $4,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. PEAK6 Investments LLC acquired a new stake in shares of Toro during the third quarter worth approximately $1,248,000. Benjamin Edwards Inc. grew its holdings in shares of Toro by 6,995.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 74,005 shares of the company’s stock valued at $6,418,000 after acquiring an additional 72,962 shares in the last quarter. Point72 DIFC Ltd increased its stake in shares of Toro by 101.6% in the third quarter. Point72 DIFC Ltd now owns 13,000 shares of the company’s stock worth $1,127,000 after acquiring an additional 6,550 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Toro by 294.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 24,652 shares of the company’s stock worth $1,975,000 after acquiring an additional 18,401 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in Toro by 111.4% in the fourth quarter. Quantbot Technologies LP now owns 51,945 shares of the company’s stock valued at $4,161,000 after purchasing an additional 27,376 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analyst Ratings Changes

TTC has been the subject of a number of recent research reports. Northland Securities raised Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Monday, February 24th. Raymond James cut their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. DA Davidson decreased their target price on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. StockNews.com lowered shares of Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Robert W. Baird decreased their price objective 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. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.75.

Toro Price Performance

NYSE TTC opened at $72.88 on Tuesday. The Toro Company has a 1 year low of $71.23 and a 1 year high of $100.93. The company has a fifty day simple moving average of $78.78 and a 200 day simple moving average of $81.90. 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 company has a market cap of $7.27 billion, a P/E ratio of 18.17 and a beta of 0.70.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, March 31st. Toro’s dividend payout ratio is currently 38.87%.

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

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.