The Manufacturers Life Insurance Company Sells 1,421 Shares of GATX Co. (NYSE:GATX)

The Manufacturers Life Insurance Company decreased its position in shares of GATX Co. (NYSE:GATX) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,936 shares of the transportation company’s stock after selling 1,421 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of GATX worth $5,422,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GATX. Gradient Investments LLC bought a new position in GATX during the second quarter worth about $25,000. Wolff Wiese Magana LLC purchased a new stake in shares of GATX during the 3rd quarter valued at approximately $28,000. Quarry LP purchased a new stake in shares of GATX during the 2nd quarter valued at approximately $37,000. Canada Pension Plan Investment Board bought a new position in GATX in the 2nd quarter worth approximately $53,000. Finally, CWM LLC grew its stake in GATX by 20.2% in the 3rd quarter. CWM LLC now owns 487 shares of the transportation company’s stock valued at $65,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 93.14% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Farm Mutual Automobile I. State acquired 8,984 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $133.65 per share, with a total value of $1,200,711.60. Following the acquisition, the insider now owns 3,312,294 shares of the company’s stock, valued at approximately $442,688,093.10. The trade was a 0.27 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

GATX Stock Down 1.4 %

GATX opened at $159.24 on Friday. The firm has a market capitalization of $5.65 billion, a P/E ratio of 21.29 and a beta of 0.99. GATX Co. has a one year low of $110.94 and a one year high of $167.25. The company has a fifty day moving average price of $145.17 and a 200-day moving average price of $139.42. The company has a debt-to-equity ratio of 3.41, a current ratio of 3.41 and a quick ratio of 3.41.

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

GATX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, December 13th. GATX’s dividend payout ratio (DPR) is 31.02%.

Analyst Upgrades and Downgrades

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

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.