Comerica Bank Reduces Holdings in GATX Co. (NYSE:GATX)

Comerica Bank decreased its position in shares of GATX Co. (NYSE:GATX) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,173 shares of the transportation company’s stock after selling 509 shares during the period. Comerica Bank’s holdings in GATX were worth $2,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in GATX during the 4th quarter valued at about $55,496,000. American Century Companies Inc. grew 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 last quarter. Northern Trust Corp lifted its stake in shares of GATX by 12.4% during the 4th quarter. Northern Trust Corp now owns 700,603 shares of the transportation company’s stock worth $108,565,000 after acquiring an additional 77,437 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in GATX by 81.7% during the 4th quarter. JPMorgan Chase & Co. now owns 168,747 shares of the transportation company’s stock valued at $26,149,000 after acquiring an additional 75,886 shares during the period. Finally, Sei Investments Co. grew its position in GATX by 6.6% in the 4th quarter. Sei Investments Co. now owns 902,691 shares of the transportation company’s stock valued at $139,881,000 after acquiring an additional 56,041 shares during the last quarter. Hedge funds and other institutional investors own 93.14% of the company’s stock.

GATX Trading Up 0.8 %

GATX opened at $145.64 on Friday. GATX Co. has a 52 week low of $127.00 and a 52 week high of $168.89. The company has a market capitalization of $5.20 billion, a P/E ratio of 18.74 and a beta of 1.18. The stock’s fifty day moving average is $150.26 and its two-hundred day moving average is $154.81. The company has a quick ratio of 3.41, a current ratio of 2.77 and a debt-to-equity ratio of 3.37.

GATX (NYSE:GATX) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.06. The firm had revenue of $421.60 million during the quarter, compared to the consensus estimate of $417.06 million. GATX had a return on equity of 12.07% and a net margin of 17.92%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 earnings per share. Analysts forecast that GATX Co. will post 8.5 earnings per share for the current year.

GATX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, June 13th. GATX’s dividend payout ratio (DPR) is 30.93%.

Analyst Upgrades and Downgrades

GATX has been the subject of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of GATX in a research note on Wednesday, April 23rd. Susquehanna lowered their price objective on shares of GATX from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th.

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.