GATX Co. (NYSE:GATX) declared a quarterly dividend on Monday, October 29th, Wall Street Journal reports. Stockholders of record on Friday, December 14th will be paid a dividend of 0.44 per share by the transportation company on Monday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, December 13th.
GATX has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect GATX to earn $5.07 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 34.7%.
Shares of GATX stock opened at $77.27 on Friday. GATX has a 52 week low of $58.98 and a 52 week high of $91.12. The firm has a market capitalization of $2.97 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.03 and a beta of 1.48. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 2.40.
In related news, EVP Deborah A. Golden sold 2,869 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $81.73, for a total value of $234,483.37. Following the sale, the executive vice president now owns 43,610 shares in the company, valued at approximately $3,564,245.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.63% of the stock is currently owned by insiders.
Several research firms recently issued reports on GATX. Zacks Investment Research upgraded GATX from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Tuesday, September 18th. Mizuho set a $90.00 price objective on GATX and gave the company a “buy” rating in a report on Thursday, October 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $79.50.
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GATX Company Profile
GATX Corporation leases, operates, manages, and remarkets assets in the rail and marine markets in North America and internationally. The company operates through four segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management. The Rail North America segment primarily leases railcars and locomotives.
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