ING Groep NV Invests $306,000 in GATX Corporation (GATX)

ING Groep NV acquired a new stake in GATX Corporation (NYSE:GATX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,757 shares of the transportation company’s stock, valued at approximately $306,000.

Several other hedge funds have also modified their holdings of GATX. Tyers Asset Management LLC boosted its stake in shares of GATX Corporation by 10.1% in the first quarter. Tyers Asset Management LLC now owns 1,914 shares of the transportation company’s stock valued at $117,000 after buying an additional 176 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of GATX Corporation by 0.4% in the first quarter. IFP Advisors Inc now owns 2,195 shares of the transportation company’s stock valued at $134,000 after buying an additional 9 shares in the last quarter. Flinton Capital Management LLC boosted its stake in shares of GATX Corporation by 10.1% in the first quarter. Flinton Capital Management LLC now owns 2,436 shares of the transportation company’s stock valued at $149,000 after buying an additional 224 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of GATX Corporation by 19.4% in the first quarter. Bank of Montreal Can now owns 2,525 shares of the transportation company’s stock valued at $154,000 after buying an additional 410 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its stake in shares of GATX Corporation by 10.1% in the first quarter. Neuburgh Advisers LLC now owns 2,958 shares of the transportation company’s stock valued at $180,000 after buying an additional 272 shares in the last quarter.

GATX Corporation (NYSE:GATX) traded down 0.518% during trading on Thursday, reaching $62.385. 61,671 shares of the company traded hands. The firm’s 50 day moving average price is $62.71 and its 200 day moving average price is $60.64. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.517 and a beta of 1.19. GATX Corporation has a 12-month low of $40.66 and a 12-month high of $66.30.

GATX Corporation (NYSE:GATX) last announced 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 business had revenue of $348.40 million for the quarter, compared to analyst estimates of $352.64 million. GATX Corporation had a net margin of 17.09% and a return on equity of 17.83%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. Equities research analysts expect that GATX Corporation will post $4.60 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Friday, September 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.68%. GATX Corporation’s dividend payout ratio is 28.38%.

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Several brokerages recently weighed in on GATX. Axiom Securities reissued a “sell” rating on shares of GATX Corporation in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of GATX Corporation from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, July 24th. Stifel Nicolaus upgraded shares of GATX Corporation from a “sell” rating to a “hold” rating and boosted their target price for the company from $50.00 to $54.00 in a report on Monday, July 17th. Cowen and Company restated a “market perform” rating and issued a $63.00 target price (up previously from $62.00) on shares of GATX Corporation in a report on Sunday, April 23rd. Finally, Citigroup Inc. dropped their target price on shares of GATX Corporation from $73.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $56.14.

In other news, EVP Thomas A. Ellman sold 2,239 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $61.52, for a total value of $137,743.28. Following the completion of the sale, the executive vice president now directly owns 30,740 shares of the company’s stock, valued at approximately $1,891,124.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah A. Golden sold 1,368 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.46, for a total transaction of $88,181.28. Following the completion of the sale, the executive vice president now directly owns 37,083 shares of the company’s stock, valued at $2,390,370.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,517 shares of company stock valued at $601,618. Corporate insiders own 3.50% of the company’s stock.

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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Institutional Ownership by Quarter for GATX Corporation (NYSE:GATX)

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