M&T Bank Corp Sells 284 Shares of GATX Co. (NYSE:GATX)

M&T Bank Corp trimmed its position in shares of GATX Co. (NYSE:GATX) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,319 shares of the transportation company’s stock after selling 284 shares during the period. M&T Bank Corp’s holdings in GATX were worth $308,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new position in GATX during the 3rd quarter valued at about $28,000. Quarry LP purchased a new position in shares of GATX during the second quarter valued at approximately $37,000. Canada Pension Plan Investment Board bought a new position in shares of GATX during the second quarter valued at approximately $53,000. CWM LLC lifted its stake in GATX by 20.2% in the third quarter. CWM LLC now owns 487 shares of the transportation company’s stock worth $65,000 after acquiring an additional 82 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in GATX by 872.4% in the third quarter. Farther Finance Advisors LLC now owns 564 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 506 shares in the last quarter. 93.14% of the stock is currently owned by hedge funds and other institutional investors.

GATX Stock Performance

Shares of GATX stock opened at $155.21 on Thursday. The company’s fifty day moving average price is $150.16 and its 200-day moving average price is $140.92. The stock has a market cap of $5.51 billion, a PE ratio of 20.75 and a beta of 0.99. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 3.41. GATX Co. has a 12 month low of $114.78 and a 12 month high of $167.74.

GATX (NYSE:GATX) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.54. The company had revenue of $405.40 million during the quarter, compared to analysts’ expectations of $391.65 million. GATX had a net margin of 17.76% and a return on equity of 11.98%. GATX’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the company posted $1.44 EPS. On average, equities analysts expect that GATX Co. will post 7.6 EPS for the current fiscal year.

GATX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.58 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.32 annualized dividend and a dividend yield of 1.49%. GATX’s payout ratio is currently 31.02%.

Analysts Set New Price Targets

Several brokerages have commented on GATX. The Goldman Sachs Group assumed coverage on shares of GATX in a report on Monday, November 18th. They issued a “buy” rating and a $185.00 price objective for the company. Sidoti cut shares of GATX from a “buy” rating to a “neutral” rating and set a $158.00 price target on the stock. in a research report on Wednesday, December 4th. Finally, Susquehanna raised their price objective on shares of GATX from $122.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, GATX has an average rating of “Hold” and a consensus price target of $151.80.

Insider Activity at GATX

In other news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $133.65 per share, with a total value of $1,200,711.60. Following the transaction, the insider now owns 3,312,294 shares of the company’s stock, valued at $442,688,093.10. This trade represents a 0.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

GATX Company 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.