GATX Corporation (GATX) Sees Significant Drop in Short Interest
GATX Corporation (NYSE:GATX) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 9,628,636 shares, a decrease of 2.0% from the July 14th total of 9,825,995 shares. Based on an average daily volume of 270,158 shares, the days-to-cover ratio is currently 35.6 days. Approximately 25.3% of the company’s stock are short sold.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of GATX Corporation from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Thursday. Axiom Securities reissued a “sell” rating on shares of GATX Corporation in a research report on Wednesday, July 26th. Citigroup Inc. cut their price objective on shares of GATX Corporation from $73.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Stifel Nicolaus raised shares of GATX Corporation from a “sell” rating to a “hold” rating and increased their price objective for the company from $50.00 to $54.00 in a research report on Monday, July 17th. Finally, Buckingham Research initiated coverage on shares of GATX Corporation in a research report on Wednesday, June 21st. They set a “neutral” rating and a $64.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.14.
In related news, SVP Paul F. Titterton sold 2,843 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $61.68, for a total transaction of $175,356.24. Following the sale, the senior vice president now directly owns 12,261 shares of the company’s stock, valued at approximately $756,258.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James M. Conniff sold 638 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $64.94, for a total transaction of $41,431.72. The disclosure for this sale can be found here. Insiders have sold a total of 7,278 shares of company stock worth $463,874 over the last three months. 3.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of GATX Corporation by 14,968.9% in the first quarter. BlackRock Inc. now owns 4,203,323 shares of the transportation company’s stock valued at $256,234,000 after buying an additional 4,175,429 shares during the period. Systematic Financial Management LP increased its position in shares of GATX Corporation by 36.1% in the first quarter. Systematic Financial Management LP now owns 797,333 shares of the transportation company’s stock valued at $48,605,000 after buying an additional 211,598 shares during the period. Gotham Asset Management LLC bought a new position in shares of GATX Corporation during the first quarter valued at $8,293,000. AQR Capital Management LLC increased its position in shares of GATX Corporation by 35.2% in the first quarter. AQR Capital Management LLC now owns 518,271 shares of the transportation company’s stock valued at $31,594,000 after buying an additional 135,041 shares during the period. Finally, Norges Bank bought a new position in shares of GATX Corporation during the fourth quarter valued at $8,143,000.
GATX Corporation (NYSE GATX) opened at 61.06 on Friday. GATX Corporation has a 1-year low of $40.66 and a 1-year high of $66.30. The firm’s 50-day moving average is $62.07 and its 200 day moving average is $60.82. The company has a market cap of $2.36 billion, a PE ratio of 10.29 and a beta of 1.19.
GATX Corporation (NYSE:GATX) last released its quarterly earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.21. The firm had revenue of $348.40 million for the quarter, compared to the consensus estimate of $352.64 million. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 EPS. Analysts predict that GATX Corporation will post $4.60 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.75%. GATX Corporation’s dividend payout ratio is presently 28.38%.
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GATX Corporation Company 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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