Ameriprise Financial Inc. Lowers Position in GATX Corporation $GATX

Key Points

• Ameriprise Financial Inc. reduced its stake in GATX Corporation by 0.7% during the 1st quarter, bringing their holdings to approximately 362,021 shares, valued at $56.2 million.
• GATX has recently received a positive rating from Susquehanna with a price target of $190.00, while currently holding a consensus rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.61, which will be paid on September 30th, representing an annualized yield of 1.5%.

Ameriprise Financial Inc. lowered its holdings in GATX Corporation (NYSE:GATX - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 362,021 shares of the transportation company's stock after selling 2,471 shares during the period. Ameriprise Financial Inc. owned approximately 1.01% of GATX worth $56,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of GATX by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 82,389 shares of the transportation company's stock valued at $12,793,000 after acquiring an additional 767 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of GATX by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,356 shares of the transportation company's stock valued at $521,000 after acquiring an additional 126 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of GATX by 29.4% during the 1st quarter. Teacher Retirement System of Texas now owns 8,796 shares of the transportation company's stock valued at $1,366,000 after buying an additional 1,997 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of GATX by 6.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,523 shares of the transportation company's stock valued at $392,000 after buying an additional 146 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of GATX by 337.8% during the 1st quarter. GAMMA Investing LLC now owns 2,294 shares of the transportation company's stock valued at $356,000 after buying an additional 1,770 shares in the last quarter. Hedge funds and other institutional investors own 93.14% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Susquehanna set a $190.00 price objective on GATX and gave the company a "positive" rating in a report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, GATX presently has a consensus rating of "Moderate Buy" and a consensus target price of $177.67.

Insider Buying and Selling

In other GATX news, VP Jennifer Mcmanus sold 1,800 shares of GATX stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $154.92, for a total value of $278,856.00. Following the transaction, the vice president directly owned 3,468 shares of the company's stock, valued at $537,262.56. The trade was a 34.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Hillesland sold 2,200 shares of GATX stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $152.59, for a total value of $335,698.00. Following the completion of the transaction, the senior vice president directly owned 7,606 shares in the company, valued at $1,160,599.54. This trade represents a 22.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,679 shares of company stock valued at $3,705,974 over the last quarter. Company insiders own 2.17% of the company's stock.

GATX Price Performance

Shares of GATX stock opened at $166.14 on Thursday. The company has a debt-to-equity ratio of 3.27, a current ratio of 2.93 and a quick ratio of 2.93. The business's 50 day simple moving average is $156.23 and its two-hundred day simple moving average is $154.14. The stock has a market capitalization of $5.91 billion, a P/E ratio of 19.01 and a beta of 1.18. GATX Corporation has a one year low of $127.69 and a one year high of $168.89.

GATX (NYSE:GATX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The transportation company reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.11. The business had revenue of $430.50 million for the quarter, compared to analysts' expectations of $425.52 million. GATX had a return on equity of 12.52% and a net margin of 19.13%. GATX has set its FY 2025 guidance at 8.500-8.900 EPS. Analysts forecast that GATX Corporation will post 8.5 EPS for the current year.

GATX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 15th. GATX's payout ratio is 27.92%.

GATX 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.

Want to see what other hedge funds are holding GATX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GATX Corporation (NYSE:GATX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.