State of Alaska Department of Revenue Purchases 280 Shares of GATX Co. (NYSE:GATX)

State of Alaska Department of Revenue raised its position in GATX Co. (NYSE:GATX) by 7.3% in the 3rd quarter, Holdings Channel reports. The firm owned 4,114 shares of the transportation company’s stock after buying an additional 280 shares during the quarter. State of Alaska Department of Revenue’s holdings in GATX were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GATX. BNP Paribas Financial Markets increased its position in shares of GATX by 78.5% in the first quarter. BNP Paribas Financial Markets now owns 19,186 shares of the transportation company’s stock worth $2,572,000 after purchasing an additional 8,435 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in GATX by 89.2% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 8,273 shares of the transportation company’s stock worth $1,095,000 after buying an additional 3,900 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of GATX by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 347,451 shares of the transportation company’s stock worth $45,989,000 after buying an additional 20,985 shares during the last quarter. American Century Companies Inc. raised its position in shares of GATX by 16.9% during the 2nd quarter. American Century Companies Inc. now owns 831,625 shares of the transportation company’s stock valued at $110,074,000 after buying an additional 120,149 shares in the last quarter. Finally, Atria Investments Inc purchased a new stake in shares of GATX during the 1st quarter valued at $1,747,000. 93.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GATX news, major shareholder Farm Mutual Automobile I. State purchased 8,984 shares of the stock in a transaction on Wednesday, October 9th. The stock was acquired at an average price of $133.65 per share, with a total value of $1,200,711.60. Following the transaction, the insider now directly owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Susquehanna increased their target price on GATX from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, October 21st.

GATX Trading Up 0.1 %

GATX stock opened at $153.17 on Friday. The company has a market capitalization of $5.44 billion, a PE ratio of 20.48 and a beta of 0.95. The company has a debt-to-equity ratio of 3.41, a quick ratio of 3.41 and a current ratio of 3.41. GATX Co. has a one year low of $104.88 and a one year high of $156.03. The company’s 50 day moving average price is $136.43 and its two-hundred day moving average price is $135.51.

GATX (NYSE:GATX) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.54. The business had revenue of $405.40 million during the quarter, compared to analyst estimates of $391.65 million. GATX had a net margin of 17.76% and a return on equity of 11.98%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, analysts predict that GATX Co. will post 7.6 earnings per share for the current fiscal year.

GATX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.32 annualized dividend and a yield of 1.51%. GATX’s payout ratio is currently 31.02%.

GATX 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.