GATX (NYSE:GATX) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of GATX (NYSE:GATX) in a report issued on Monday, MarketBeat reports. The firm issued a buy rating and a $185.00 price target on the transportation company’s stock.

Separately, Susquehanna raised their price target on GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, October 21st.

GATX Stock Performance

Shares of GATX stock opened at $159.00 on Monday. The business has a 50-day simple moving average of $139.63 and a 200-day simple moving average of $137.24. The company has a debt-to-equity ratio of 3.41, a quick ratio of 3.41 and a current ratio of 3.41. GATX has a one year low of $106.92 and a one year high of $160.06. The company has a market cap of $5.64 billion, a PE ratio of 21.26 and a beta of 0.95.

GATX (NYSE:GATX) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $2.50 EPS for the quarter, topping the consensus estimate of $1.96 by $0.54. GATX had a net margin of 17.76% and a return on equity of 11.98%. The company had revenue of $405.40 million during the quarter, compared to analysts’ expectations of $391.65 million. During the same quarter in the previous year, the business posted $1.44 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. On average, equities research analysts forecast that GATX will post 7.6 EPS for the current fiscal year.

GATX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.32 dividend on an annualized basis and a yield of 1.46%. GATX’s payout ratio is currently 31.02%.

Insider Transactions at GATX

In other news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were bought at an average price of $133.65 per share, with a total value of $1,200,711.60. Following the completion of the transaction, the insider now directly owns 3,312,294 shares in the company, valued at approximately $442,688,093.10. This represents a 0.27 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On GATX

Large investors have recently modified their holdings of the company. Earnest Partners LLC grew its holdings in shares of GATX by 2.2% during the second quarter. Earnest Partners LLC now owns 3,118,084 shares of the transportation company’s stock worth $412,710,000 after buying an additional 68,243 shares during the last quarter. State Street Corp lifted its position in GATX by 0.6% during the 3rd quarter. State Street Corp now owns 1,294,895 shares of the transportation company’s stock worth $171,509,000 after acquiring an additional 7,585 shares during the period. Sei Investments Co. grew its stake in shares of GATX by 4.9% in the 2nd quarter. Sei Investments Co. now owns 869,643 shares of the transportation company’s stock valued at $115,106,000 after purchasing an additional 40,924 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of GATX by 1.5% in the third quarter. Geode Capital Management LLC now owns 849,603 shares of the transportation company’s stock valued at $112,550,000 after purchasing an additional 12,571 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of GATX by 16.9% during the second quarter. American Century Companies Inc. now owns 831,625 shares of the transportation company’s stock worth $110,074,000 after purchasing an additional 120,149 shares during the last quarter. 93.14% of the stock is owned by institutional investors and hedge funds.

GATX Company Profile

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.