Toromont Industries Ltd. (TSE:TIH) Senior Officer Sells C$606,250.00 in Stock

Toromont Industries Ltd. (TSE:TIH) Senior Officer Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$121.25, for a total transaction of C$606,250.00.

Toromont Industries Price Performance

Shares of TSE TIH opened at C$116.95 on Thursday. Toromont Industries Ltd. has a twelve month low of C$109.83 and a twelve month high of C$135.53. The firm has a fifty day simple moving average of C$117.85 and a 200 day simple moving average of C$120.67. The company has a market capitalization of C$9.54 billion, a PE ratio of 18.99, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Friday, March 7th. This is an increase from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s dividend payout ratio (DPR) is currently 31.18%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TIH. BMO Capital Markets raised their target price on shares of Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. National Bankshares raised their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Raymond James raised their target price on shares of Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Royal Bank of Canada raised their target price on shares of Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, CIBC raised their target price on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Toromont Industries has an average rating of “Moderate Buy” and an average price target of C$136.06.

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.