New York State Common Retirement Fund Sells 3,857 Shares of GATX Co. (NYSE:GATX)

04 Nov 2024, 10:36 by Kim Johansen · The Markets Daily

New York State Common Retirement Fund cut its position in GATX Co. (NYSE:GATX – Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,559 shares of the transportation company’s stock after selling 3,857 shares during the period. New York State Common Retirement Fund owned 0.50% of GATX worth $23,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GATX. Earnest Partners LLC lifted its holdings in shares of GATX by 2.2% in the 2nd quarter. Earnest Partners LLC now owns 3,118,084 shares of the transportation company’s stock worth $412,710,000 after purchasing an additional 68,243 shares in the last quarter. Sei Investments Co. grew its holdings in shares of GATX by 4.9% during the second quarter. Sei Investments Co. now owns 869,643 shares of the transportation company’s stock valued at $115,106,000 after buying an additional 40,924 shares during the last quarter. American Century Companies Inc. increased its position in shares of GATX by 16.9% during the second quarter. American Century Companies Inc. now owns 831,625 shares of the transportation company’s stock worth $110,074,000 after acquiring an additional 120,149 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of GATX by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 378,274 shares of the transportation company’s stock worth $50,068,000 after acquiring an additional 5,686 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in GATX by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 370,308 shares of the transportation company’s stock valued at $49,632,000 after acquiring an additional 977 shares in the last quarter. Institutional investors and hedge funds own 93.14% of the company’s stock.

Insider Buying and Selling at GATX

In related news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was purchased at an average cost of $133.65 per share, with a total value of $1,200,711.60. Following the completion of the acquisition, the insider now directly owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

GATX Trading Up 0.3 %

NYSE GATX opened at $138.20 on Monday. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 18.48 and a beta of 0.95. The company has a debt-to-equity ratio of 3.41, a current ratio of 3.41 and a quick ratio of 3.41. GATX Co. has a one year low of $104.88 and a one year high of $151.33. The business’s fifty day moving average is $135.86 and its 200-day moving average is $135.04.

GATX (NYSE:GATX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.54. GATX had a net margin of 17.76% and a return on equity of 11.98%. The company had revenue of $405.40 million during the quarter, compared to analyst estimates of $391.65 million. During the same quarter last year, the business posted $1.44 EPS. GATX’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts predict that GATX Co. will post 7.6 EPS for the current year.

GATX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, December 13th. GATX’s dividend payout ratio is currently 31.02%.

Wall Street Analyst Weigh In

Separately, Susquehanna lifted their target price on GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a research report on Monday, October 21st.

View Our Latest Stock Analysis on GATX

GATX Company Profile

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