GATX (NYSE:GATX) Shares Gap Up After Analyst Upgrade

GATX Co. (NYSE:GATX)’s stock price gapped up prior to trading on Tuesday after Susquehanna raised their price target on the stock from $122.00 to $140.00. The stock had previously closed at $131.03, but opened at $138.89. Susquehanna currently has a neutral rating on the stock. GATX shares last traded at $135.03, with a volume of 11,023 shares changing hands.

Insider Buying and Selling

In other GATX news, major shareholder Farm Mutual Automobile I. State bought 8,984 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price 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 $442,688,093.10. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GATX. Gradient Investments LLC acquired a new position in GATX during the second quarter worth $25,000. Wolff Wiese Magana LLC purchased a new stake in shares of GATX during the 3rd quarter worth $28,000. Quarry LP purchased a new stake in shares of GATX during the 2nd quarter worth approximately $37,000. CWM LLC lifted its stake in GATX by 155.7% in the first quarter. CWM LLC now owns 335 shares of the transportation company’s stock valued at $45,000 after buying an additional 204 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in GATX in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 93.14% of the company’s stock.

GATX Stock Up 3.0 %

The firm’s 50 day moving average price is $135.82 and its two-hundred day moving average price is $134.58. The company has a debt-to-equity ratio of 3.52, a current ratio of 4.97 and a quick ratio of 4.97. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 18.67 and a beta of 0.95.

GATX (NYSE:GATX) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business had revenue of $386.70 million during the quarter, compared to analyst estimates of $385.45 million. GATX had a net margin of 15.86% and a return on equity of 10.61%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. As a group, sell-side analysts forecast that GATX Co. will post 7.5 earnings per share for the current fiscal year.

GATX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.32 dividend on an annualized basis and a yield of 1.72%. GATX’s payout ratio is 33.05%.

About GATX

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.