GATX Co. Declares Quarterly Dividend of $0.58 (NYSE:GATX)

GATX Co. (NYSE:GATX) announced a quarterly dividend on Friday, April 26th, Zacks reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.58 per share by the transportation company on Sunday, June 30th. This represents a $2.32 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, June 14th.

GATX has increased its dividend by an average of 4.6% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. GATX has a payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GATX to earn $7.82 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 29.7%.

GATX Stock Down 0.4 %

GATX stock traded down $0.48 during midday trading on Friday, hitting $127.51. The company’s stock had a trading volume of 115,482 shares, compared to its average volume of 128,349. The company has a debt-to-equity ratio of 3.28, a current ratio of 3.39 and a quick ratio of 2.79. GATX has a twelve month low of $97.21 and a twelve month high of $135.65. The company’s fifty day moving average price is $129.78 and its 200 day moving average price is $120.20. The stock has a market capitalization of $4.53 billion, a P/E ratio of 18.16 and a beta of 0.98.

GATX (NYSE:GATX) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.29. GATX had a net margin of 17.64% and a return on equity of 11.29%. The firm had revenue of $379.90 million for the quarter, compared to analyst estimates of $375.80 million. During the same period in the previous year, the business earned $2.20 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that GATX will post 7.53 EPS for the current year.

Insider Transactions at GATX

In related news, SVP Kevin Hillesland sold 2,200 shares of GATX stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $133.83, for a total transaction of $294,426.00. Following the completion of the sale, the senior vice president now owns 7,711 shares of the company’s stock, valued at approximately $1,031,963.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Thomas A. Ellman sold 18,000 shares of GATX stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $127.54, for a total transaction of $2,295,720.00. Following the completion of the sale, the chief financial officer now owns 35,429 shares of the company’s stock, valued at approximately $4,518,614.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin Hillesland sold 2,200 shares of GATX stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $133.83, for a total transaction of $294,426.00. Following the sale, the senior vice president now directly owns 7,711 shares of the company’s stock, valued at approximately $1,031,963.13. The disclosure for this sale can be found here. Insiders have sold 39,694 shares of company stock worth $5,040,656 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

GATX has been the topic of several recent analyst reports. TD Cowen boosted their price objective on shares of GATX from $122.00 to $136.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Wells Fargo & Company boosted their price objective on shares of GATX from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Susquehanna boosted their price objective on shares of GATX from $120.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday.

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.