Geode Capital Management LLC Acquires 12,571 Shares of GATX Co. (NYSE:GATX)

Geode Capital Management LLC increased its stake in GATX Co. (NYSE:GATX) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 849,603 shares of the transportation company’s stock after acquiring an additional 12,571 shares during the quarter. Geode Capital Management LLC owned 2.39% of GATX worth $112,550,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GATX. American Century Companies Inc. grew its holdings in GATX by 16.9% in 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 period. Earnest Partners LLC grew its stake in shares of GATX by 2.2% in the 2nd quarter. Earnest Partners LLC now owns 3,118,084 shares of the transportation company’s stock valued at $412,710,000 after buying an additional 68,243 shares during the period. Sei Investments Co. increased its position in 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 buying an additional 40,924 shares in the last quarter. International Assets Investment Management LLC bought a new stake in GATX in the 3rd quarter valued at about $3,922,000. Finally, AE Wealth Management LLC boosted its holdings in GATX by 46.4% in the second quarter. AE Wealth Management LLC now owns 71,366 shares of the transportation company’s stock worth $9,446,000 after acquiring an additional 22,619 shares in the last quarter. Institutional investors and hedge funds own 93.14% of the company’s stock.

GATX Stock Down 1.0 %

Shares of NYSE:GATX opened at $161.05 on Wednesday. The business’s 50 day moving average is $149.61 and its 200 day moving average is $140.76. GATX Co. has a 12-month low of $114.78 and a 12-month high of $167.74. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 21.53 and a beta of 0.99. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 3.41.

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

GATX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.32 annualized dividend and a yield of 1.44%. GATX’s dividend payout ratio (DPR) is 31.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GATX shares. The Goldman Sachs Group initiated coverage on GATX in a report on Monday, November 18th. They set a “buy” rating and a $185.00 price objective for the company. Susquehanna boosted their price target on shares of GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Sidoti lowered shares of GATX from a “buy” rating to a “neutral” rating and set a $158.00 price objective on the stock. in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $151.80.

Insiders Place Their Bets

In other GATX news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of GATX stock in a transaction on Wednesday, October 9th. The stock was purchased at an average price of $133.65 per share, for a total transaction of $1,200,711.60. Following the purchase, the insider now directly owns 3,312,294 shares of the company’s stock, valued at $442,688,093.10. This trade represents a 0.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.