GATX Co. (NYSE:GATX – Get Free Report) announced a quarterly dividend on Monday, July 31st, Wall Street Journal reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.55 per share by the transportation company on Saturday, September 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, September 14th.
GATX has increased its dividend by an average of 4.2% annually over the last three years and has increased its dividend every year for the last 13 years. GATX has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect GATX to earn $6.98 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 31.5%.
GATX Price Performance
GATX stock opened at $125.36 on Tuesday. The firm has a 50-day moving average price of $125.43 and a 200-day moving average price of $115.55. The firm has a market capitalization of $4.43 billion, a PE ratio of 20.65 and a beta of 1.05. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 3.12. GATX has a 12-month low of $84.96 and a 12-month high of $133.01.
Insider Activity
In other GATX news, EVP Paul F. Titterton sold 8,100 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $119.84, for a total transaction of $970,704.00. Following the completion of the transaction, the executive vice president now owns 11,373 shares of the company’s stock, valued at $1,362,940.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Aken Jennifer Van sold 2,600 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $124.43, for a total value of $323,518.00. Following the completion of the transaction, the senior vice president now owns 4,649 shares of the company’s stock, valued at $578,475.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Paul F. Titterton sold 8,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $119.84, for a total transaction of $970,704.00. Following the completion of the transaction, the executive vice president now directly owns 11,373 shares of the company’s stock, valued at approximately $1,362,940.32. The disclosure for this sale can be found here. Insiders sold 11,700 shares of company stock worth $1,414,832 over the last three months. Insiders own 1.80% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in GATX by 14.8% during the first quarter. JPMorgan Chase & Co. now owns 153,511 shares of the transportation company’s stock worth $16,889,000 after purchasing an additional 19,836 shares in the last quarter. Advisory Services Network LLC raised its holdings in GATX by 125.7% during the first quarter. Advisory Services Network LLC now owns 844 shares of the transportation company’s stock worth $93,000 after purchasing an additional 470 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in GATX by 14.5% during the first quarter. Mercer Global Advisors Inc. ADV now owns 2,614 shares of the transportation company’s stock worth $288,000 after purchasing an additional 331 shares in the last quarter. Ruggaard & Associates LLC acquired a new stake in GATX during the first quarter worth approximately $308,000. Finally, Scopus Asset Management L.P. raised its holdings in GATX by 433.9% during the first quarter. Scopus Asset Management L.P. now owns 177,248 shares of the transportation company’s stock worth $19,501,000 after purchasing an additional 144,048 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.
Analyst Ratings Changes
GATX has been the topic of a number of analyst reports. StockNews.com downgraded shares of GATX from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Wells Fargo & Company lifted their price objective on shares of GATX from $125.00 to $145.00 in a research report on Wednesday, July 26th. Susquehanna lifted their price objective on shares of GATX from $118.00 to $122.00 in a research report on Wednesday, July 26th. Stephens lifted their price objective on shares of GATX from $135.00 to $142.00 in a research report on Wednesday, July 26th. Finally, TD Cowen reiterated a “market perform” rating and issued a $137.00 target price (up from $135.00) on shares of GATX in a research note on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $136.50.
About GATX
GATX Corporation, together its subsidiaries, operates as railcar leasing company in the United States, Canada, Mexico, Europe, and India. It operates through three segments: Rail North America, Rail International, and Portfolio Management. The company leases tank and freight railcars, and locomotives for petroleum, chemical, food/agriculture, and transportation industries.
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