Fifth Third Bancorp lifted its stake in GATX Corporation (NYSE:GATX – Free Report) by 77.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,638 shares of the transportation company’s stock after buying an additional 12,955 shares during the period. Fifth Third Bancorp owned approximately 0.08% of GATX worth $5,060,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of GATX. Larson Financial Group LLC boosted its holdings in GATX by 364.5% during the 3rd quarter. Larson Financial Group LLC now owns 144 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 113 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in GATX in the 4th quarter worth approximately $27,000. Los Angeles Capital Management LLC bought a new stake in GATX in the fourth quarter valued at approximately $27,000. Rothschild Investment LLC boosted its stake in shares of GATX by 127.6% during the fourth quarter. Rothschild Investment LLC now owns 173 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 97 shares during the period. Finally, Elevation Wealth Partners LLC purchased a new stake in shares of GATX during the fourth quarter valued at approximately $32,000. Institutional investors own 93.14% of the company’s stock.
GATX Price Performance
GATX stock opened at $178.27 on Friday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 3.91 and a current ratio of 3.91. The firm has a 50 day moving average price of $174.98 and a 200-day moving average price of $180.01. GATX Corporation has a 52-week low of $148.20 and a 52-week high of $205.56. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 19.13 and a beta of 1.17.
GATX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.66 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.64 annualized dividend and a dividend yield of 1.5%. GATX’s payout ratio is currently 28.33%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on GATX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GATX in a research note on Tuesday, April 21st. Citigroup increased their price target on shares of GATX from $211.00 to $214.00 and gave the company a “buy” rating in a research report on Monday. Susquehanna cut their price target on shares of GATX from $220.00 to $218.00 and set a “positive” rating on the stock in a report on Friday, May 8th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $222.00 price objective on shares of GATX in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, GATX currently has a consensus rating of “Buy” and a consensus price target of $218.00.
Check Out Our Latest Analysis on GATX
GATX Company Profile
GATX Corporation (NYSE: GATX) is a global railcar leasing and asset management company headquartered in Chicago, Illinois. Founded in 1898 as General American Transportation Corporation, GATX has grown into one of the world’s leading lessors of railcars, marine vessels and industrial assets. The company’s core business focuses on leasing and managing high-value equipment for customers in the energy, industrial, chemical, agricultural and metals markets.
In its Rail North America segment, GATX owns and manages a diverse fleet of more than 60,000 railcars, including tank cars, covered hoppers, boxcars and flatcars.
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