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

GATX Co. (NYSE:GATX) announced a quarterly dividend on Friday, October 25th, Zacks reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.58 per share by the transportation company on Tuesday, December 31st. This represents a $2.32 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, December 13th.

GATX has increased its dividend payment by an average of 4.6% per year over the last three years and has increased its dividend every year for the last 14 years. GATX has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings.

GATX Stock Performance

GATX stock traded down $1.14 during trading on Friday, reaching $137.81. 169,838 shares of the stock were exchanged, compared to its average volume of 151,276. The stock has a 50 day simple moving average of $135.94 and a 200-day simple moving average of $134.72. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 3.52. The company has a market capitalization of $4.91 billion, a P/E ratio of 19.63 and a beta of 0.95. GATX has a twelve month low of $101.31 and a twelve month high of $151.33.

GATX (NYSE:GATX) last issued its 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 return on equity of 10.61% and a net margin of 15.86%. The firm had revenue of $405.40 million during the quarter, compared to analysts’ expectations of $391.65 million. During the same period last year, the business earned $1.44 earnings per share. GATX’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that GATX will post 7.5 earnings per share for the current year.

Insider Activity at GATX

In other news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $133.65 per share, with a total value of $1,200,711.60. Following the completion of the acquisition, the insider now owns 3,312,294 shares in the company, valued at approximately $442,688,093.10. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Susquehanna lifted their price objective on GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a report on Monday, October 21st.

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.