GATX Co. (NYSE:GATX) announced a quarterly dividend on Friday, January 29th, Zacks reports. Investors of record on Friday, February 26th will be given a dividend of 0.50 per share by the transportation company on Wednesday, March 31st. This represents a $2.00 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, February 25th. This is an increase from GATX’s previous quarterly dividend of $0.48.
GATX has raised its dividend by 14.3% over the last three years and has increased its dividend annually for the last 1 consecutive years. GATX has a dividend payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GATX to earn $3.75 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 53.3%.
Shares of GATX stock opened at $99.04 on Tuesday. The firm has a market cap of $3.47 billion, a P/E ratio of 18.48 and a beta of 1.04. The firm has a fifty day moving average of $92.07 and a two-hundred day moving average of $77.40. The company has a debt-to-equity ratio of 2.69, a current ratio of 4.22 and a quick ratio of 4.22. GATX has a 1-year low of $50.69 and a 1-year high of $101.16.
In other news, CEO Brian A. Kenney sold 29,400 shares of the company’s stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $96.73, for a total transaction of $2,843,862.00. Following the completion of the sale, the chief executive officer now directly owns 185,522 shares of the company’s stock, valued at $17,945,543.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert Zmudka sold 4,400 shares of the stock in a transaction on Friday, February 5th. The shares were sold at an average price of $95.11, for a total value of $418,484.00. Following the completion of the transaction, the vice president now owns 9,820 shares of the company’s stock, valued at approximately $933,980.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,334 shares of company stock worth $4,767,580. 4.00% of the stock is owned by corporate insiders.
GATX has been the topic of a number of recent analyst reports. Cowen lifted their price target on GATX from $84.00 to $99.00 and gave the company a “market perform” rating in a report on Tuesday, February 9th. Zacks Investment Research lowered GATX from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Friday, January 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $83.60.
GATX Corporation leases, operates, manages, and remarkets assets in the rail and marine markets worldwide. The company operates through four segments: Rail North America, Rail International, Portfolio Management, and American Steamship Company (ASC). It leases tank and freight railcars, and locomotives for petroleum, chemical, food/agriculture, and transportation industries.
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