Oppenheimer Asset Management Inc. Increases Stake in GATX Corporation (NYSE:GATX)

Oppenheimer Asset Management Inc. increased its holdings in shares of GATX Corporation (NYSE:GATX) by 1.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 35,247 shares of the transportation company’s stock after purchasing an additional 518 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GATX were worth $5,473,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GATX. Assetmark Inc. increased its position in shares of GATX by 60.4% in the 4th quarter. Assetmark Inc. now owns 178 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of GATX in the 1st quarter valued at approximately $30,000. Brown Brothers Harriman & Co. purchased a new stake in shares of GATX in the 4th quarter valued at approximately $39,000. Orion Capital Management LLC purchased a new stake in shares of GATX in the 4th quarter valued at approximately $39,000. Finally, UMB Bank n.a. increased its position in shares of GATX by 101.2% in the 1st quarter. UMB Bank n.a. now owns 328 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 165 shares during the last quarter. 93.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other GATX news, VP Jennifer Mcmanus sold 1,800 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $154.92, for a total transaction of $278,856.00. Following the transaction, the vice president now directly owns 3,468 shares of the company’s stock, valued at approximately $537,262.56. This trade represents a 34.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul F. Titterton sold 18,700 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $156.66, for a total transaction of $2,929,542.00. Following the transaction, the executive vice president now directly owns 10,468 shares in the company, valued at $1,639,916.88. The trade was a 64.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.17% of the company’s stock.

GATX Trading Up 0.4%

Shares of GATX stock opened at $155.80 on Wednesday. The company has a fifty day simple moving average of $149.75 and a 200-day simple moving average of $154.80. GATX Corporation has a 12-month low of $127.70 and a 12-month high of $168.89. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 3.43. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 19.75 and a beta of 1.19.

GATX (NYSE:GATX) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.06. GATX had a net margin of 17.73% and a return on equity of 12.00%. The business had revenue of $421.60 million during the quarter, compared to analysts’ expectations of $417.06 million. During the same quarter in the prior year, the business posted $2.01 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts forecast that GATX Corporation will post 8.5 EPS for the current fiscal year.

GATX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, June 13th. GATX’s payout ratio is 30.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GATX. Susquehanna dropped their price objective on shares of GATX from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group reissued a “buy” rating on shares of GATX in a research report on Wednesday, April 23rd.

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.