GATX Co. (NYSE:GATX) to Issue Quarterly Dividend of $0.61

GATX Co. (NYSE:GATX) declared a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.61 per share by the transportation company on Monday, March 31st. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from GATX’s previous quarterly dividend of $0.58.

GATX has raised its dividend by an average of 5.1% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. GATX has a dividend payout ratio of 24.2% indicating that its dividend is sufficiently covered by earnings.

GATX Stock Performance

GATX stock traded down $0.90 during mid-day trading on Friday, hitting $165.84. The company had a trading volume of 17,123 shares, compared to its average volume of 146,403. The firm has a market cap of $5.89 billion, a PE ratio of 21.33 and a beta of 0.99. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.41 and a current ratio of 2.77. GATX has a 12 month low of $120.14 and a 12 month high of $168.29. The stock’s fifty day moving average price is $158.68 and its two-hundred day moving average price is $145.94.

GATX (NYSE:GATX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. GATX had a net margin of 17.92% and a return on equity of 12.07%. During the same period in the prior year, the business earned $1.74 earnings per share. On average, analysts forecast that GATX will post 8.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GATX. Sidoti cut shares of GATX from a “buy” rating to a “neutral” rating and set a $158.00 price objective for the company. in a research note on Wednesday, December 4th. The Goldman Sachs Group initiated coverage on shares of GATX in a research note on Monday, November 18th. They set a “buy” rating and a $185.00 price objective for the company. Finally, Susquehanna boosted their price target on shares of GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st.

About GATX

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.