Corebridge Financial Inc. Trims Position in GATX Co. (NYSE:GATX)

Corebridge Financial Inc. trimmed its stake in GATX Co. (NYSE:GATX) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,711 shares of the transportation company’s stock after selling 3,208 shares during the period. Corebridge Financial Inc. owned about 0.16% of GATX worth $8,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in GATX. Vanguard Group Inc. boosted its holdings in shares of GATX by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 3,949,889 shares of the transportation company’s stock valued at $612,075,000 after purchasing an additional 17,885 shares during the period. LPL Financial LLC lifted its holdings in shares of GATX by 13.8% in the 4th quarter. LPL Financial LLC now owns 13,831 shares of the transportation company’s stock worth $2,143,000 after buying an additional 1,679 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of GATX in the 4th quarter worth $1,100,000. Sei Investments Co. grew its position in shares of GATX by 6.6% during the 4th quarter. Sei Investments Co. now owns 902,691 shares of the transportation company’s stock worth $139,881,000 after buying an additional 56,041 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of GATX by 12.1% during the fourth quarter. American Century Companies Inc. now owns 1,099,447 shares of the transportation company’s stock valued at $170,370,000 after buying an additional 118,306 shares during the period. 93.14% of the stock is currently owned by institutional investors.

GATX Stock Performance

Shares of GATX stock opened at $159.45 on Friday. The company’s 50 day moving average is $160.79 and its 200 day moving average is $152.09. The company has a quick ratio of 3.41, a current ratio of 2.77 and a debt-to-equity ratio of 3.37. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 20.52 and a beta of 1.00. GATX Co. has a 52-week low of $122.00 and a 52-week high of $168.89.

GATX (NYSE:GATX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. GATX had a return on equity of 12.07% and a net margin of 17.92%. During the same period in the prior year, the firm posted $1.74 EPS. On average, sell-side analysts anticipate that GATX Co. will post 8.5 EPS for the current fiscal year.

GATX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.53%. This is a positive change from GATX’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, February 28th. GATX’s dividend payout ratio is presently 31.40%.

Insider Activity

In other news, SVP Jeffery R. Young sold 297 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.63, for a total transaction of $48,895.11. Following the completion of the sale, the senior vice president now owns 7,362 shares in the company, valued at approximately $1,212,006.06. This represents a 3.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert Zmudka sold 4,800 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $163.83, for a total value of $786,384.00. Following the completion of the sale, the vice president now directly owns 7,493 shares of the company’s stock, valued at $1,227,578.19. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.17% of the company’s stock.

Analyst Ratings Changes

Separately, Sidoti lowered shares of GATX from a “buy” rating to a “neutral” rating and set a $158.00 price objective for the company. in a research note on Wednesday, December 4th.

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.