Toromont Industries (TSE:TIH – Free Report) had its target price cut by Scotiabank from C$136.00 to C$132.00 in a report released on Wednesday morning, BayStreet.CA reports.
A number of other equities analysts also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. National Bank Financial lowered shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Royal Bank of Canada lifted their target price on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. TD Securities upped their target price on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, National Bankshares decreased their price target on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$135.00.
View Our Latest Stock Analysis on TIH
Toromont Industries Stock Up 0.5 %
Toromont Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.
Insiders Place Their Bets
In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. Insiders sold 4,500 shares of company stock valued at $554,864 over the last ninety days. 0.27% of the stock is currently owned by insiders.
About Toromont Industries
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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