Geode Capital Management LLC Boosts Position in GATX Corporation (GATX)
Geode Capital Management LLC raised its position in GATX Corporation (NYSE:GATX) by 3.0% during the first quarter, Holdings Channel reports. The institutional investor owned 293,933 shares of the transportation company’s stock after buying an additional 8,680 shares during the period. Geode Capital Management LLC’s holdings in GATX Corporation were worth $17,918,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System purchased a new position in shares of GATX Corporation during the fourth quarter valued at $992,000. First Citizens Bank & Trust Co. purchased a new position in shares of GATX Corporation during the first quarter valued at $301,000. Norges Bank purchased a new position in shares of GATX Corporation during the fourth quarter valued at $8,143,000. Thrivent Financial for Lutherans purchased a new position in shares of GATX Corporation during the fourth quarter valued at $421,000. Finally, Macquarie Group Ltd. purchased a new position in shares of GATX Corporation during the fourth quarter valued at $1,256,000.
GATX Corporation (NYSE GATX) opened at 61.80 on Monday. The company has a 50 day moving average price of $61.68 and a 200 day moving average price of $60.25. GATX Corporation has a 12 month low of $40.66 and a 12 month high of $66.30. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.18 and a beta of 1.20.
GATX Corporation (NYSE:GATX) last issued its earnings results on Thursday, April 20th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.36. The company had revenue of $316.10 million during the quarter, compared to analyst estimates of $312.24 million. GATX Corporation had a net margin of 17.52% and a return on equity of 18.91%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts predict that GATX Corporation will post $4.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Tuesday, June 13th. GATX Corporation’s dividend payout ratio (DPR) is currently 27.72%.
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GATX has been the topic of several research reports. ValuEngine raised GATX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. Axiom Securities reaffirmed a “sell” rating on shares of GATX Corporation in a research report on Friday, June 16th. Zacks Investment Research raised GATX Corporation from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Friday, April 21st. Cowen and Company reaffirmed a “market perform” rating and issued a $63.00 target price (up from $62.00) on shares of GATX Corporation in a research report on Sunday, April 23rd. Finally, Buckingham Research initiated coverage on GATX Corporation in a research report on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 target price on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.50.
In other GATX Corporation news, EVP Thomas A. Ellman sold 2,239 shares of GATX Corporation stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $61.52, for a total transaction of $137,743.28. Following the completion of the sale, the executive vice president now owns 30,740 shares of the company’s stock, valued at approximately $1,891,124.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul F. Titterton sold 2,843 shares of GATX Corporation stock in a transaction on Monday, June 5th. The shares were sold at an average price of $61.68, for a total transaction of $175,356.24. Following the sale, the senior vice president now directly owns 12,261 shares of the company’s stock, valued at approximately $756,258.48. The disclosure for this sale can be found here. Insiders have sold a total of 9,517 shares of company stock valued at $601,618 in the last three months. Company insiders own 3.50% of the company’s stock.
About GATX Corporation
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
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