GATX (NYSE:GATX) Reaches New 12-Month High – Here’s What Happened
by Mitch Edgeman · The Markets DailyShares of GATX Corporation (NYSE:GATX – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $180.33 and last traded at $179.8750, with a volume of 30427 shares trading hands. The stock had previously closed at $179.47.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Citigroup boosted their target price on shares of GATX from $192.00 to $198.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Susquehanna boosted their price objective on GATX from $190.00 to $192.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of GATX in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $204.00 target price on shares of GATX in a research note on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $198.00.
Check Out Our Latest Stock Report on GATX
GATX Price Performance
The business has a 50 day simple moving average of $168.89 and a two-hundred day simple moving average of $165.00. The firm has a market capitalization of $6.63 billion, a P/E ratio of 21.69 and a beta of 1.16. The company has a debt-to-equity ratio of 3.26, a quick ratio of 3.81 and a current ratio of 3.81.
GATX (NYSE:GATX – Get Free Report) last issued its quarterly earnings data on Tuesday, October 21st. The transportation company reported $2.10 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.22). The business had revenue of $439.30 million for the quarter, compared to analysts’ expectations of $435.21 million. GATX had a return on equity of 11.62% and a net margin of 18.35%.The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.43 EPS. On average, sell-side analysts expect that GATX Corporation will post 8.5 EPS for the current fiscal year.
GATX Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, December 15th. GATX’s payout ratio is currently 28.50%.
Insider Activity at GATX
In other news, SVP Aken Jennifer Van sold 1,800 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $164.15, for a total transaction of $295,470.00. Following the sale, the senior vice president owned 5,912 shares in the company, valued at approximately $970,454.80. This trade represents a 23.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.17% of the stock is owned by insiders.
Hedge Funds Weigh In On GATX
A number of large investors have recently added to or reduced their stakes in GATX. Bank of America Corp DE boosted its position in GATX by 0.5% during the second quarter. Bank of America Corp DE now owns 1,219,746 shares of the transportation company’s stock valued at $187,304,000 after buying an additional 6,104 shares during the period. American Century Companies Inc. boosted its holdings in GATX by 5.1% during the 3rd quarter. American Century Companies Inc. now owns 1,137,000 shares of the transportation company’s stock valued at $198,748,000 after acquiring an additional 55,609 shares during the period. Sei Investments Co. boosted its holdings in GATX by 2.8% during the 3rd quarter. Sei Investments Co. now owns 949,877 shares of the transportation company’s stock valued at $166,038,000 after acquiring an additional 25,440 shares during the period. Geode Capital Management LLC grew its position in GATX by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 879,139 shares of the transportation company’s stock worth $135,017,000 after acquiring an additional 6,612 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in GATX by 681.7% in the 3rd quarter. Alliancebernstein L.P. now owns 574,333 shares of the transportation company’s stock worth $100,393,000 after purchasing an additional 500,857 shares during the period. Hedge funds and other institutional investors own 93.14% of the company’s stock.
GATX Company Profile
GATX Corporation (NYSE: GATX) is a global railcar leasing and asset management company headquartered in Chicago, Illinois. Founded in 1898 as General American Transportation Corporation, GATX has grown into one of the world’s leading lessors of railcars, marine vessels and industrial assets. The company’s core business focuses on leasing and managing high-value equipment for customers in the energy, industrial, chemical, agricultural and metals markets.
In its Rail North America segment, GATX owns and manages a diverse fleet of more than 60,000 railcars, including tank cars, covered hoppers, boxcars and flatcars.