State Board of Administration of Florida Retirement System lifted its position in GATX Corporation (NYSE:GATX) by 35.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,034 shares of the transportation company’s stock after purchasing an additional 5,801 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.06% of GATX Corporation worth $1,416,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in GATX Corporation by 14,968.9% during the 1st quarter. BlackRock Inc. now owns 4,203,323 shares of the transportation company’s stock valued at $256,234,000 after acquiring an additional 4,175,429 shares during the period. State Street Corp boosted its holdings in GATX Corporation by 1.6% during the 1st quarter. State Street Corp now owns 1,332,438 shares of the transportation company’s stock valued at $81,227,000 after acquiring an additional 20,689 shares during the period. Systematic Financial Management LP boosted its holdings in GATX Corporation by 36.1% during the 1st quarter. Systematic Financial Management LP now owns 797,333 shares of the transportation company’s stock valued at $48,605,000 after acquiring an additional 211,598 shares during the period. AQR Capital Management LLC boosted its holdings in GATX Corporation by 35.2% during the 1st quarter. AQR Capital Management LLC now owns 518,271 shares of the transportation company’s stock valued at $31,594,000 after acquiring an additional 135,041 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in GATX Corporation by 4.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 311,106 shares of the transportation company’s stock valued at $19,995,000 after acquiring an additional 12,112 shares during the period.
In related news, VP Jeffery R. Young sold 2,910 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $58.70, for a total value of $170,817.00. Following the completion of the sale, the vice president now owns 6,881 shares in the company, valued at $403,914.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by insiders.
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Shares of GATX Corporation (GATX) opened at 58.83 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of 9.92 and a beta of 1.20. The firm has a 50-day moving average price of $61.04 and a 200 day moving average price of $60.93. GATX Corporation has a 12-month low of $40.90 and a 12-month high of $66.30.
GATX Corporation (NYSE:GATX) last announced its quarterly earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.21. The firm had revenue of $348.40 million during the quarter, compared to analyst estimates of $352.64 million. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. GATX Corporation’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 earnings per share. Equities research analysts expect that GATX Corporation will post $4.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be issued a $0.42 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. GATX Corporation’s payout ratio is 28.38%.
GATX has been the subject of several analyst reports. Axiom Securities restated a “sell” rating on shares of GATX Corporation in a report on Friday, June 16th. ValuEngine upgraded GATX Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Zacks Investment Research cut GATX Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Citigroup Inc. dropped their target price on GATX Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, Stifel Nicolaus upgraded GATX Corporation from a “sell” rating to a “hold” rating and increased their target price for the company from $50.00 to $54.00 in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $55.71.
GATX Corporation Profile
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
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