Principal Financial Group Inc. lowered its stake in GATX Co. (NYSE:GATX - Free Report) by 30.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 82,623 shares of the transportation company's stock after selling 36,778 shares during the quarter. Principal Financial Group Inc. owned 0.23% of GATX worth $10,943,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Gradient Investments LLC bought a new stake in GATX during the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC bought a new position in shares of GATX during the third quarter valued at about $28,000. Quarry LP bought a new position in shares of GATX during the second quarter valued at about $37,000. Canada Pension Plan Investment Board purchased a new stake in shares of GATX during the second quarter worth about $53,000. Finally, CWM LLC grew its stake in shares of GATX by 20.2% in the third quarter. CWM LLC now owns 487 shares of the transportation company's stock worth $65,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 93.14% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on GATX shares. The Goldman Sachs Group began coverage on GATX in a report on Monday. They issued a "buy" rating and a $185.00 price objective for the company. Susquehanna raised their price target on GATX from $122.00 to $140.00 and gave the stock a "neutral" rating in a research note on Monday, October 21st.
Read Our Latest Analysis on GATX
Insiders Place Their Bets
In other news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $133.65 per share, with a total value of $1,200,711.60. Following the transaction, the insider now owns 3,312,294 shares of the company's stock, valued at $442,688,093.10. This trade represents a 0.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.
GATX Stock Up 0.5 %
GATX stock traded up $0.80 during trading hours on Monday, hitting $152.33. 156,068 shares of the stock traded hands, compared to its average volume of 151,228. GATX Co. has a one year low of $106.92 and a one year high of $156.03. The company has a market cap of $5.41 billion, a PE ratio of 20.26 and a beta of 0.95. The firm's 50-day moving average price is $138.40 and its two-hundred day moving average price is $136.76. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 3.41.
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 for the quarter, topping the consensus estimate of $1.96 by $0.54. The company had revenue of $405.40 million for the quarter, compared to analysts' expectations of $391.65 million. GATX had a return on equity of 11.98% and a net margin of 17.76%. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, research analysts forecast that GATX Co. will post 7.6 EPS for the current year.
GATX Announces Dividend
The firm 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 dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, December 13th. GATX's payout ratio is currently 31.02%.
About GATX
(
Free Report)
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.
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