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

GATX Co. (NYSE:GATX) announced a quarterly dividend on Friday, April 26th, Zacks reports. Investors of record on Friday, June 14th will be given 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 is Friday, June 14th.

GATX has raised its dividend by an average of 4.6% annually over the last three years and has raised 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. 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 Price Performance

Shares of NYSE:GATX traded down $0.48 during midday trading on Friday, hitting $127.51. The company had a trading volume of 115,482 shares, compared to its average volume of 128,349. GATX has a twelve month low of $97.21 and a twelve month high of $135.65. 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 stock has a market cap of $4.53 billion, a price-to-earnings ratio of 18.16 and a beta of 0.98. The business’s 50-day simple moving average is $129.78 and its 200-day simple moving average is $120.20.

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

Wall Street Analyst Weigh In

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

Insider Activity at GATX

In related news, SVP Kevin Hillesland sold 2,200 shares of GATX stock in a transaction on 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 in the company, valued at $1,031,963.13. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Robert C. Lyons sold 19,300 shares of GATX stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $125.70, for a total value of $2,426,010.00. Following the completion of the transaction, the chief executive officer now directly owns 44,710 shares in the company, valued at $5,620,047. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $294,426.00. Following the sale, the senior vice president now directly owns 7,711 shares of the company’s stock, valued at $1,031,963.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,694 shares of company stock worth $5,040,656. Company insiders own 1.80% of the company’s stock.

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.