Shine Investment Advisory Services Inc. Invests $118,000 in GATX Corporation (NYSE:GATX)
Shine Investment Advisory Services Inc. bought a new stake in GATX Corporation (NYSE:GATX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,833 shares of the transportation company’s stock, valued at approximately $118,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in GATX Corporation during the fourth quarter valued at approximately $8,143,000. UBS Asset Management Americas Inc. acquired a new position in GATX Corporation during the fourth quarter valued at about $1,500,000. Teachers Advisors LLC acquired a new position in GATX Corporation during the fourth quarter valued at about $4,296,000. Macquarie Group Ltd. acquired a new position in GATX Corporation during the fourth quarter valued at about $1,256,000. Finally, Bank of Montreal Can boosted its position in GATX Corporation by 19.4% in the first quarter. Bank of Montreal Can now owns 2,525 shares of the transportation company’s stock valued at $154,000 after buying an additional 410 shares in the last quarter.
Shares of GATX Corporation (NYSE:GATX) opened at 64.17 on Wednesday. The firm’s 50-day moving average price is $62.80 and its 200 day moving average price is $60.50. GATX Corporation has a 1-year low of $40.66 and a 1-year high of $66.30. The stock has a market capitalization of $2.48 billion, a P/E ratio of 10.82 and a beta of 1.19.
GATX Corporation (NYSE:GATX) last released its quarterly earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.21. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. The company had revenue of $348.40 million for the quarter, compared to analysts’ expectations of $352.64 million. During the same quarter in the previous year, the company posted $1.49 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Analysts expect that GATX Corporation will post $4.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.68 annualized dividend and a yield of 2.62%. GATX Corporation’s payout ratio is 28.38%.
Several research analysts have recently issued reports on GATX shares. Axiom Securities reaffirmed a “sell” rating on shares of GATX Corporation in a research report on Friday, June 16th. ValuEngine raised GATX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research raised GATX Corporation from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Friday, April 21st. Buckingham Research initiated coverage on GATX Corporation in a report on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 target price for the company. Finally, Cowen and Company reissued a “market perform” rating and issued a $63.00 target price (up from $62.00) on shares of GATX Corporation in a report on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. GATX Corporation currently has a consensus rating of “Hold” and an average price target of $56.14.
In other GATX Corporation news, SVP Paul F. Titterton sold 2,843 shares of GATX Corporation 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 transaction, the senior vice president now owns 12,261 shares in the company, valued at $756,258.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas A. Ellman sold 2,239 shares of GATX Corporation stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $61.52, for a total transaction of $137,743.28. Following the completion of the transaction, the executive vice president now owns 30,740 shares in the company, valued at approximately $1,891,124.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,517 shares of company stock worth $601,618. 3.50% of the stock is owned by corporate 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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