GATX Corporation (NYSE:GATX) Announces $0.61 Quarterly Dividend

Key Points

• GATX Corporation declared a quarterly dividend of $0.61 per share, with a payout date of September 30th for shareholders of record on September 15th, representing a 1.59% dividend yield.
• Following a recent earnings report, GATX posted $2.15 earnings per share, exceeding analysts' expectations of $2.09, with revenue increasing by 11% year-over-year.
• Insider trading activity showed a significant sale by executives, with a vice president selling 1,800 shares and an executive vice president selling 18,700 shares, indicating a 34.17% and 64.11% decrease in their ownership, respectively.

GATX Corporation (NYSE:GATX - Get Free Report) declared a quarterly dividend on Friday, July 25th, Wall Street Journal reports. Shareholders of record on Monday, September 15th will be paid a dividend of 0.61 per share by the transportation company on Tuesday, September 30th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, September 15th.

GATX has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings.

GATX Stock Up 0.8%

Shares of GATX traded up $1.21 on Friday, hitting $153.49. 130,735 shares of the stock traded hands, compared to its average volume of 174,505. The company has a debt-to-equity ratio of 3.43, a quick ratio of 4.14 and a current ratio of 4.14. GATX has a one year low of $127.69 and a one year high of $168.89. The company has a market capitalization of $5.48 billion, a PE ratio of 19.45 and a beta of 1.16. The business has a 50 day simple moving average of $154.02 and a 200 day simple moving average of $154.57.

GATX (NYSE:GATX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.06. The company had revenue of $421.60 million for the quarter, compared to analysts' expectations of $417.06 million. GATX had a net margin of 17.73% and a return on equity of 12.00%. GATX's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.01 EPS. As a group, equities analysts forecast that GATX will post 8.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GATX news, VP Jennifer Mcmanus sold 1,800 shares of GATX stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $154.92, for a total value of $278,856.00. Following the completion of the transaction, the vice president owned 3,468 shares of the company's stock, valued at approximately $537,262.56. The trade was a 34.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul F. Titterton sold 18,700 shares of GATX stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $156.66, for a total transaction of $2,929,542.00. Following the completion of the transaction, the executive vice president directly owned 10,468 shares of the company's stock, valued at $1,639,916.88. The trade was a 64.11% decrease in their position. The disclosure for this sale can be found here. 2.17% of the stock is currently owned by insiders.

Institutional Trading of GATX

Several institutional investors have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in shares of GATX by 280.6% during the first quarter. Jane Street Group LLC now owns 53,690 shares of the transportation company's stock worth $8,336,000 after purchasing an additional 39,582 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of GATX by 1.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,834 shares of the transportation company's stock worth $18,141,000 after purchasing an additional 1,968 shares in the last quarter. Millennium Management LLC increased its stake in shares of GATX by 54.9% during the first quarter. Millennium Management LLC now owns 58,011 shares of the transportation company's stock worth $9,007,000 after purchasing an additional 20,569 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of GATX by 21.3% during the first quarter. AQR Capital Management LLC now owns 7,716 shares of the transportation company's stock worth $1,198,000 after purchasing an additional 1,357 shares in the last quarter. Institutional investors and hedge funds own 93.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GATX. The Goldman Sachs Group reiterated a "buy" rating on shares of GATX in a research note on Wednesday, April 23rd. Susquehanna reduced their target price on GATX from $165.00 to $160.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th.

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.

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