GATX Co. (NYSE:GATX) Increases Dividend to $0.50 Per Share

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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.

GATX (NYSE:GATX) last issued its earnings results on Thursday, January 28th. The transportation company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.36). The firm had revenue of $304.90 million during the quarter, compared to the consensus estimate of $301.53 million. GATX had a net margin of 14.96% and a return on equity of 9.01%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, sell-side analysts expect that GATX will post 4.49 earnings per share for the current year.

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.

About GATX

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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Dividend History for GATX (NYSE:GATX)

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