GATX Corporation (NYSE:GATX) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its stake in GATX Corporation by 65.2%, selling 4,955 shares and holding only 2,650 shares worth $411,000 after the sale.
• GATX has announced a quarterly dividend of $0.61 per share, with an annualized dividend of $2.44 and a yield of 1.6%, payable on September 30th.
• Institutional investors hold 93.14% of GATX's stock, with significant activity in the fourth quarter from firms like JPMorgan Chase & Co. and Norges Bank, indicating strong institutional interest.

Pacer Advisors Inc. cut its position in shares of GATX Corporation (NYSE:GATX - Free Report) by 65.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,650 shares of the transportation company's stock after selling 4,955 shares during the quarter. Pacer Advisors Inc.'s holdings in GATX were worth $411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GATX. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in GATX in the first quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new stake in GATX in the fourth quarter valued at approximately $39,000. UMB Bank n.a. grew its holdings in 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. Huntington National Bank grew its holdings in GATX by 54.3% in the fourth quarter. Huntington National Bank now owns 344 shares of the transportation company's stock valued at $53,000 after purchasing an additional 121 shares during the period. Finally, CWM LLC grew its holdings in 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. 93.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GATX has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of GATX from $165.00 to $160.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group restated a "buy" rating on shares of GATX in a report on Wednesday, April 23rd.

GATX Trading Up 0.9%

GATX stock traded up $1.32 during midday trading on Tuesday, reaching $150.91. 54,031 shares of the company's stock traded hands, compared to its average volume of 176,174. The company has a market capitalization of $5.37 billion, a P/E ratio of 17.27 and a beta of 1.18. The company has a debt-to-equity ratio of 3.27, a current ratio of 2.93 and a quick ratio of 2.93. GATX Corporation has a fifty-two week low of $127.69 and a fifty-two week high of $168.89. The business has a 50-day moving average price of $154.79 and a two-hundred day moving average price of $154.60.

GATX (NYSE:GATX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The transportation company reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.11. The firm had revenue of $430.50 million for the quarter, compared to analysts' expectations of $425.52 million. GATX had a net margin of 19.13% and a return on equity of 12.52%. Equities research analysts forecast that GATX Corporation will post 8.5 EPS for the current fiscal year.

GATX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. GATX's payout ratio is presently 27.92%.

Insider Transactions at GATX

In related news, EVP Paul F. Titterton sold 18,700 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $156.66, for a total value of $2,929,542.00. Following the sale, the executive vice president directly owned 10,468 shares of the company's stock, valued at $1,639,916.88. This represents a 64.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jennifer Mcmanus sold 1,800 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $154.92, for a total transaction of $278,856.00. Following the completion of the sale, the vice president directly owned 3,468 shares in the company, valued at $537,262.56. This represents a 34.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,700 shares of company stock valued at $3,544,096. Corporate insiders own 2.17% of the company's stock.

GATX Company 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.