Toromont Industries (TSE:TIH – Free Report) had its price target trimmed by BMO Capital Markets from C$143.00 to C$140.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.
TIH has been the subject of several other research reports. Raymond James dropped their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday. Royal Bank of Canada dropped their price objective on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. Scotiabank cut their target price on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. National Bank Financial lowered Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, TD Securities upped their price target on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$135.00.
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Toromont Industries Trading Down 0.5 %
Toromont Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, December 6th. Toromont Industries’s dividend payout ratio is currently 30.62%.
Insider Activity at Toromont Industries
In other news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$124.00, for a total transaction of C$310,000.00. In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Senior Officer Jennifer Cochrane sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total value of C$169,750.00. In the last three months, insiders sold 4,500 shares of company stock worth $554,864. 0.27% of the stock is owned by company insiders.
Toromont Industries Company Profile
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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