GATX Corporation (NYSE:GATX) Stake Raised by State Treasurer State of Michigan
State Treasurer State of Michigan raised its position in GATX Corporation (NYSE:GATX) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,090 shares of the transportation company’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in GATX Corporation were worth $1,034,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of GATX Corporation by 14,968.9% in the first quarter. BlackRock Inc. now owns 4,203,323 shares of the transportation company’s stock worth $256,234,000 after buying an additional 4,175,429 shares during the period. Systematic Financial Management LP raised its position in shares of GATX Corporation by 36.1% in the first quarter. Systematic Financial Management LP now owns 797,333 shares of the transportation company’s stock worth $48,605,000 after buying an additional 211,598 shares during the period. Gotham Asset Management LLC acquired a new position in shares of GATX Corporation during the first quarter worth about $8,293,000. AQR Capital Management LLC raised its position in shares of GATX Corporation by 35.2% in the first quarter. AQR Capital Management LLC now owns 518,271 shares of the transportation company’s stock worth $31,594,000 after buying an additional 135,041 shares during the period. Finally, Norges Bank acquired a new position in shares of GATX Corporation during the fourth quarter worth about $8,143,000.
GATX Corporation (NYSE GATX) traded up 2.50% during midday trading on Tuesday, reaching $65.20. The company’s stock had a trading volume of 60,614 shares. The firm has a 50-day moving average price of $63.04 and a 200 day moving average price of $60.47. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.99 and a beta of 1.19. GATX Corporation has a 52-week low of $40.66 and a 52-week high of $66.30.
GATX Corporation (NYSE:GATX) last issued its quarterly earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.21. The business had revenue of $348.40 million during the quarter, compared to analyst estimates of $352.64 million. GATX Corporation had a net margin of 17.09% and a return on equity of 17.83%. GATX Corporation’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 earnings per share. Equities research analysts predict that GATX Corporation will post $4.60 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, September 14th. GATX Corporation’s dividend payout ratio is currently 28.38%.
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A number of equities analysts recently issued reports on GATX shares. Axiom Securities reissued a “sell” rating on shares of GATX Corporation in a report on Friday, June 16th. ValuEngine raised GATX Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Zacks Investment Research raised GATX Corporation from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Friday, April 21st. Buckingham Research started coverage on GATX Corporation in a report on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, Cowen and Company reissued a “market perform” rating and issued a $63.00 price objective (up from $62.00) on shares of GATX Corporation in a report on Sunday, April 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $56.14.
In related news, SVP Paul F. Titterton sold 2,843 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $61.68, for a total value of $175,356.24. Following the completion of the sale, the senior vice president now owns 12,261 shares of the company’s stock, valued at $756,258.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah A. Golden sold 2,429 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $65.42, for a total transaction of $158,905.18. Following the completion of the sale, the executive vice president now directly owns 39,783 shares of the company’s stock, valued at approximately $2,602,603.86. The disclosure for this sale can be found here. In the last three months, insiders sold 9,517 shares of company stock valued at $601,618. 3.50% of the stock is currently owned by company insiders.
GATX Corporation Company Profile
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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