GATX Corporation $GATX Shares Sold by NorthCrest Asset Manangement LLC

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 trimmed its holdings in GATX Corporation (NYSE:GATX - Free Report) by 24.5% in the second quarter, according to its most recent disclosure with the SEC. The fund 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 reporting period.

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

GATX Price Performance

Shares of GATX stock traded up $1.82 during trading hours on Tuesday, hitting $177.77. The company's stock had a trading volume of 19,838 shares, compared to its average volume of 178,138. The business has a fifty day moving average of $160.87 and a 200-day moving average of $154.80. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 20.38 and a beta of 1.18. GATX Corporation has a twelve month low of $127.69 and a twelve month high of $178.26. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 3.27.

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

GATX Announces Dividend

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

Analyst Ratings Changes

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

Insider Transactions at GATX

In related news, Director Anne L. Arvia sold 979 shares of GATX 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 transaction, the director owned 33,077 shares in the company, valued at approximately $5,469,281.95. The trade was a 2.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert C. Lyons sold 12,635 shares of GATX 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 transaction, the chief executive officer owned 50,575 shares in the company, valued at $8,412,139.75. The trade was a 19.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,914 shares of company stock worth $2,953,509 over the last ninety days. 2.17% 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.