GATX (NYSE:GATX) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

GATX Corporation (NYSE:GATX)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $165.72 and traded as high as $183.49. GATX shares last traded at $180.12, with a volume of 147,680 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GATX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GATX in a report on Thursday, January 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $204.00 price target on shares of GATX in a report on Wednesday, January 14th. Citigroup upped their price objective on GATX from $192.00 to $198.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Susquehanna raised their target price on GATX from $192.00 to $212.00 and gave the company a “positive” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $204.67.

GATX Trading Down 2.0%

The firm has a market cap of $6.43 billion, a PE ratio of 21.04 and a beta of 1.16. The company has a debt-to-equity ratio of 3.26, a current ratio of 3.81 and a quick ratio of 3.81. The business has a 50-day moving average price of $171.22 and a two-hundred day moving average price of $165.72.

GATX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, December 15th. GATX’s dividend payout ratio is 28.50%.

Insider Buying and Selling at GATX

In related news, SVP Aken Jennifer Van sold 1,800 shares of GATX stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $164.15, for a total transaction of $295,470.00. Following the completion of the transaction, the senior vice president directly owned 5,912 shares in the company, valued at $970,454.80. The trade was a 23.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.17% of the stock is currently owned by company insiders.

Institutional Trading of GATX

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in GATX by 0.5% in the 2nd quarter. Bank of America Corp DE now owns 1,219,746 shares of the transportation company’s stock valued at $187,304,000 after acquiring an additional 6,104 shares during the last quarter. American Century Companies Inc. increased its stake in GATX by 5.1% in the third quarter. American Century Companies Inc. now owns 1,137,000 shares of the transportation company’s stock valued at $198,748,000 after purchasing an additional 55,609 shares during the last quarter. Sei Investments Co. lifted its position in GATX by 2.8% during the third quarter. Sei Investments Co. now owns 949,877 shares of the transportation company’s stock worth $166,038,000 after buying an additional 25,440 shares during the period. Geode Capital Management LLC lifted its position in GATX by 0.8% during the second quarter. Geode Capital Management LLC now owns 879,139 shares of the transportation company’s stock worth $135,017,000 after buying an additional 6,612 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in GATX by 681.7% in the 3rd quarter. Alliancebernstein L.P. now owns 574,333 shares of the transportation company’s stock worth $100,393,000 after buying an additional 500,857 shares during the last quarter. Institutional investors and hedge funds own 93.14% of the company’s stock.

GATX Company Profile

GATX Corporation (NYSE: GATX) is a global railcar leasing and asset management company headquartered in Chicago, Illinois. Founded in 1898 as General American Transportation Corporation, GATX has grown into one of the world’s leading lessors of railcars, marine vessels and industrial assets. The company’s core business focuses on leasing and managing high-value equipment for customers in the energy, industrial, chemical, agricultural and metals markets.

In its Rail North America segment, GATX owns and manages a diverse fleet of more than 60,000 railcars, including tank cars, covered hoppers, boxcars and flatcars.