GATX Co. (NYSE:GATX) to Issue $0.58 Quarterly Dividend

GATX Co. (NYSE:GATX) declared a quarterly dividend on Friday, April 26th, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.58 per share by the transportation company on Sunday, June 30th. This represents a $2.32 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, June 14th.

GATX has increased its dividend payment by an average of 4.6% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. GATX has a payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GATX to earn $7.82 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 29.7%.

GATX Price Performance

GATX stock traded down $0.48 during mid-day trading on Friday, reaching $127.51. 115,482 shares of the company traded hands, compared to its average volume of 128,349. The company has a debt-to-equity ratio of 3.28, a current ratio of 3.39 and a quick ratio of 2.79. The company has a market capitalization of $4.53 billion, a P/E ratio of 18.16 and a beta of 0.98. GATX has a 52-week low of $97.21 and a 52-week high of $135.65. The company has a fifty day moving average price of $129.78 and a 200-day moving average price of $120.20.

GATX (NYSE:GATX) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.29. The business had revenue of $379.90 million during the quarter, compared to analyst estimates of $375.80 million. GATX had a return on equity of 11.29% and a net margin of 17.64%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. As a group, analysts anticipate that GATX will post 7.53 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the completion of the sale, the senior vice president now owns 7,711 shares in the company, valued at approximately $1,031,963.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other GATX news, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the completion of the sale, the senior vice president now owns 7,711 shares in the company, valued at $1,031,963.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas A. Ellman sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $127.54, for a total value of $2,295,720.00. Following the completion of the sale, the chief financial officer now owns 35,429 shares of the company’s stock, valued at approximately $4,518,614.66. The disclosure for this sale can be found here. Insiders sold 39,694 shares of company stock worth $5,040,656 in the last quarter. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

GATX has been the subject of several recent analyst reports. Susquehanna boosted their price objective on GATX from $120.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen boosted their price objective on GATX from $122.00 to $136.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Finally, Wells Fargo & Company boosted their price objective on GATX from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th.

GATX Company Profile

GATX Corporation, together its subsidiaries, operates as railcar leasing company in the United States, Canada, Mexico, Europe, and India. It operates through three segments: Rail North America, Rail International, and Portfolio Management. The company leases tank and freight railcars, and locomotives for petroleum, chemical, food/agriculture, and transportation industries.