GATX Co. (NYSE:GATX) declared a quarterly dividend on Friday, January 29th, Zacks reports. Investors of record on Friday, February 26th will be paid a dividend of 0.50 per share by the transportation company on Wednesday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, February 25th. This is a positive change from GATX’s previous quarterly dividend of $0.48.
GATX has raised its dividend by 14.3% over the last three years and has raised its dividend every year for the last 1 years. GATX has a dividend payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GATX to earn $3.75 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 53.3%.
GATX stock opened at $99.04 on Tuesday. The firm has a 50-day moving average of $92.07 and a 200-day moving average of $77.40. GATX has a one year low of $50.69 and a one year high of $101.16. The company has a debt-to-equity ratio of 2.69, a current ratio of 4.22 and a quick ratio of 4.22. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 18.48 and a beta of 1.04.
Several analysts recently issued reports on the stock. Cowen increased their price target on shares of GATX from $84.00 to $99.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 9th. Zacks Investment Research lowered shares of GATX from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research report on Friday, January 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $83.60.
In other news, EVP Deborah A. Golden sold 6,700 shares of GATX stock in a transaction on Monday, February 1st. The shares were sold at an average price of $90.89, for a total transaction of $608,963.00. Following the transaction, the executive vice president now owns 40,435 shares in the company, valued at $3,675,137.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian A. Kenney sold 29,400 shares of GATX stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $96.73, for a total transaction of $2,843,862.00. Following the transaction, the chief executive officer now owns 185,522 shares in the company, valued at approximately $17,945,543.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,334 shares of company stock worth $4,767,580. 4.00% of the stock is owned by company insiders.
GATX Corporation leases, operates, manages, and remarkets assets in the rail and marine markets worldwide. The company operates through four segments: Rail North America, Rail International, Portfolio Management, and American Steamship Company (ASC). It leases tank and freight railcars, and locomotives for petroleum, chemical, food/agriculture, and transportation industries.
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