TIAA CREF Investment Management LLC trimmed its position in GATX Corporation (NYSE:GATX) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,425 shares of the transportation company’s stock after selling 6,005 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.27% of GATX Corporation worth $6,776,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System boosted its position in GATX Corporation by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 16,500 shares of the transportation company’s stock valued at $1,060,000 after purchasing an additional 100 shares during the period. BNP Paribas Arbitrage SA boosted its position in GATX Corporation by 117.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,685 shares of the transportation company’s stock valued at $1,394,000 after purchasing an additional 11,710 shares during the period. Fox Run Management L.L.C. acquired a new position in GATX Corporation during the 2nd quarter valued at approximately $308,000. Legal & General Group Plc boosted its position in GATX Corporation by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 49,991 shares of the transportation company’s stock valued at $3,213,000 after purchasing an additional 3,198 shares during the period. Finally, Bessemer Group Inc. boosted its position in GATX Corporation by 12.4% during the 2nd quarter. Bessemer Group Inc. now owns 4,549 shares of the transportation company’s stock valued at $293,000 after purchasing an additional 501 shares during the period.
GATX Corporation (NYSE:GATX) opened at 62.93 on Friday. The firm’s 50-day moving average price is $61.03 and its 200-day moving average price is $61.39. GATX Corporation has a 12 month low of $42.21 and a 12 month high of $66.30. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 10.61 and a beta of 1.20.
GATX Corporation (NYSE:GATX) last issued its earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.21. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. The business had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $352.64 million. During the same period in the prior year, the firm posted $1.49 EPS. GATX Corporation’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that GATX Corporation will post $4.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Friday, September 15th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.67%. GATX Corporation’s dividend payout ratio is 28.38%.
A number of research firms recently issued reports on GATX. Zacks Investment Research upgraded GATX Corporation from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, July 24th. Citigroup Inc. reduced their price objective on GATX Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Stifel Nicolaus upgraded GATX Corporation from a “sell” rating to a “hold” rating and boosted their price objective for the company from $50.00 to $54.00 in a research report on Monday, July 17th. Buckingham Research began coverage on GATX Corporation in a research report on Wednesday, June 21st. They set a “neutral” rating and a $64.00 price objective for the company. Finally, ValuEngine upgraded GATX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.50.
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In related news, VP Jeffery R. Young sold 2,910 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $58.70, for a total transaction of $170,817.00. Following the completion of the sale, the vice president now directly owns 6,881 shares of the company’s stock, valued at approximately $403,914.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.
GATX Corporation Profile
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
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