Toromont Industries Ltd. (TSE:TIH) Director William John Harvey Sells 200 Shares

Toromont Industries Ltd. (TSE:TIH - Get Free Report) Director William John Harvey sold 200 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of C$116.27, for a total transaction of C$23,254.00. Following the completion of the sale, the director now owns 979 shares in the company, valued at approximately C$113,828.33. The trade was a 16.96 % decrease in their position.

Toromont Industries Price Performance

TSE:TIH opened at C$114.22 on Wednesday. The firm has a market cap of C$9.32 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company's 50-day moving average price is C$118.04 and its two-hundred day moving average price is C$120.48. 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 Ltd. has a 12 month low of C$109.83 and a 12 month high of C$135.53.

Toromont Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from Toromont Industries's previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 7th. Toromont Industries's dividend payout ratio is presently 31.18%.

Wall Street Analysts Forecast Growth

TIH has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. Raymond James increased 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 note on Thursday, February 13th. CIBC lifted their target price on Toromont Industries from C$129.00 to C$131.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their price target on Toromont Industries from C$138.00 to C$139.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Finally, National Bankshares lifted their price objective on Toromont Industries from C$126.00 to C$133.00 and gave the stock an "outperform" rating in a 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$136.06.

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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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