NorthCrest Asset Manangement LLC Sells 2,406 Shares of GATX Corporation $GATX

Key Points

• NorthCrest Asset Management LLC reduced its stake in GATX Corporation by 24.5%, selling 2,406 shares during Q2 and now holding 7,422 shares worth $1,182,000.
• Wall Street analysts have set a price target of $190.00 for GATX shares, with a consensus recommendation of "Moderate Buy" and an average target price of $177.67.
• GATX recently announced a quarterly dividend of $0.61 to be paid on September 30th, which implies a 1.4% yield based on the current share price.

NorthCrest Asset Manangement LLC lowered its holdings in GATX Corporation (NYSE:GATX - Free Report) by 24.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,422 shares of the transportation company's stock after selling 2,406 shares during the period. NorthCrest Asset Manangement LLC's holdings in GATX were worth $1,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GATX in the first quarter valued at approximately $30,000. TCTC Holdings LLC raised its position in shares of GATX by 117.0% in the first quarter. TCTC Holdings LLC now owns 243 shares of the transportation company's stock valued at $38,000 after purchasing an additional 131 shares during the period. UMB Bank n.a. raised its position in shares of GATX by 101.2% in the first quarter. UMB Bank n.a. now owns 328 shares of the transportation company's stock valued at $51,000 after purchasing an additional 165 shares during the period. CWM LLC raised its position in shares of GATX by 12.7% in the first quarter. CWM LLC now owns 621 shares of the transportation company's stock valued at $96,000 after purchasing an additional 70 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of GATX in the first quarter valued at approximately $100,000. Institutional investors own 93.14% of the company's stock.

Insider Activity

In related news, CEO Robert C. Lyons sold 12,635 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $166.33, for a total transaction of $2,101,579.55. Following the completion of the sale, the chief executive officer directly owned 50,575 shares in the company, valued at $8,412,139.75. This represents a 19.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Anne L. Arvia sold 979 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $165.35, for a total transaction of $161,877.65. Following the sale, the director owned 33,077 shares of the company's stock, valued at $5,469,281.95. This represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,914 shares of company stock valued at $2,953,509. 2.17% of the stock is owned by corporate insiders.

GATX Trading Up 2.3%

Shares of GATX stock traded up $4.04 during trading on Monday, reaching $176.11. The company's stock had a trading volume of 209,932 shares, compared to its average volume of 178,350. GATX Corporation has a 52-week low of $127.69 and a 52-week high of $177.71. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 20.12 and a beta of 1.18. The firm's 50-day moving average is $160.53 and its two-hundred day moving average is $154.65. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 3.27.

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

GATX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, September 15th. GATX's dividend payout ratio is currently 27.92%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GATX. Susquehanna set a $190.00 price target on shares of GATX and gave the company a "positive" rating in a research report on Monday, August 18th. Citigroup started coverage on shares of GATX in a research note on Monday. They set a "buy" rating and a $201.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, GATX currently has a consensus rating of "Moderate Buy" and an average target price of $183.50.

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.