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

GATX Co. (NYSE:GATX) declared a quarterly dividend on Friday, April 26th, Zacks reports. Investors 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 dividend 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 increased its dividend annually for the last 14 consecutive years. GATX has a dividend 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 Trading Down 0.4 %

GATX stock traded down $0.48 during mid-day trading on Friday, reaching $127.51. 115,482 shares of the company traded hands, 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. The firm’s 50 day moving average price is $129.78 and its 200 day moving average price is $120.20. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 18.16 and a beta of 0.98. GATX has a 52-week low of $97.21 and a 52-week high of $135.65.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GATX. Wells Fargo & Company boosted their price objective on shares of GATX from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Susquehanna boosted their target price on shares of GATX from $120.00 to $122.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, TD Cowen boosted their target price on shares of GATX from $122.00 to $136.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th.

Insider Buying and Selling

In related news, CFO Thomas A. Ellman sold 18,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $127.54, for a total value of $2,295,720.00. Following the transaction, the chief financial officer now owns 35,429 shares in the company, valued at approximately $4,518,614.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other GATX news, CFO Thomas A. Ellman sold 18,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $127.54, for a total value of $2,295,720.00. Following the completion of the transaction, 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 SEC, which is available through this link. Also, SVP Kevin Hillesland sold 2,200 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $133.83, for a total value of $294,426.00. Following the completion of the transaction, 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 a total of 39,694 shares of company stock worth $5,040,656 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

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.