Geode Capital Management LLC Raises Position in GATX Co. (NYSE:GATX)

Geode Capital Management LLC boosted its position in GATX Co. (NYSE:GATX) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 849,603 shares of the transportation company’s stock after purchasing an additional 12,571 shares during the period. Geode Capital Management LLC’s holdings in GATX were worth $112,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wolff Wiese Magana LLC bought a new position in GATX during the third quarter worth about $28,000. Quarry LP bought a new position in GATX in the 2nd quarter worth approximately $37,000. Canada Pension Plan Investment Board purchased a new position in GATX in the 2nd quarter valued at approximately $53,000. CWM LLC raised its holdings in GATX by 20.2% during the 3rd quarter. CWM LLC now owns 487 shares of the transportation company’s stock valued at $65,000 after acquiring an additional 82 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of GATX by 872.4% during the third quarter. Farther Finance Advisors LLC now owns 564 shares of the transportation company’s stock worth $75,000 after acquiring an additional 506 shares in the last quarter. 93.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GATX. Susquehanna boosted their price objective on GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Sidoti cut GATX from a “buy” rating to a “neutral” rating and set a $158.00 price target on the stock. in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group began coverage on shares of GATX in a research report on Monday, November 18th. They issued a “buy” rating and a $185.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, GATX currently has an average rating of “Hold” and an average target price of $151.80.

GATX Price Performance

Shares of NYSE GATX opened at $161.05 on Wednesday. The firm has a market capitalization of $5.72 billion, a P/E ratio of 21.53 and a beta of 0.99. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 3.41. The stock’s 50-day simple moving average is $149.61 and its two-hundred day simple moving average is $140.76. GATX Co. has a twelve month low of $114.78 and a twelve month high of $167.74.

GATX (NYSE:GATX) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.54. GATX had a net margin of 17.76% and a return on equity of 11.98%. The business had revenue of $405.40 million for the quarter, compared to the consensus estimate of $391.65 million. During the same period last year, the firm posted $1.44 earnings per share. GATX’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that GATX Co. will post 7.6 EPS for the current fiscal year.

GATX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.32 annualized dividend and a yield of 1.44%. GATX’s dividend payout ratio (DPR) is presently 31.02%.

Insider Activity at GATX

In other news, major shareholder Farm Mutual Automobile I. State bought 8,984 shares of the business’s stock in a transaction on 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 purchase, the insider now directly owns 3,312,294 shares in the company, valued at $442,688,093.10. This represents a 0.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

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.