GATX (GATX) Declares $0.55 Dividend

GATX said on April 28, 2023 that its board of directors declared a regular quarterly dividend of $0.55 per share ($2.20 annualized). Previously, the company paid $0.55 per share.

Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on June 30, 2023.

At the current share price of $113.24 / share, the stock's dividend yield is 1.94%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.31%, the lowest has been 1.66%, and the highest has been 3.62%. The standard deviation of yields is 0.38 (n=237).

The current dividend yield is 0.97 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.49. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.15%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 596 funds or institutions reporting positions in GATX. This is an increase of 13 owner(s) or 2.23% in the last quarter. Average portfolio weight of all funds dedicated to GATX is 0.19%, an increase of 2.37%. Total shares owned by institutions decreased in the last three months by 1.00% to 41,366K shares. The put/call ratio of GATX is 1.08, indicating a bearish outlook.

Analyst Price Forecast Suggests 16.38% Upside

As of April 24, 2023, the average one-year price target for GATX is 131.78. The forecasts range from a low of 116.15 to a high of $159.60. The average price target represents an increase of 16.38% from its latest reported closing price of 113.24.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for GATX is 1,377MM, an increase of 6.31%. The projected annual non-GAAP EPS is 6.65.

What are Other Shareholders Doing?

State Farm Mutual Automobile Insurance holds 5,827K shares representing 16.49% ownership of the company. No change in the last quarter.

Earnest Partners holds 2,653K shares representing 7.51% ownership of the company. In it's prior filing, the firm reported owning 2,677K shares, representing a decrease of 0.89%. The firm increased its portfolio allocation in GATX by 12.95% over the last quarter.

Wellington Management Group Llp holds 1,649K shares representing 4.67% ownership of the company. In it's prior filing, the firm reported owning 1,612K shares, representing an increase of 2.25%. The firm increased its portfolio allocation in GATX by 20.28% over the last quarter.

Gamco Investors, Inc. Et Al holds 1,535K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 1,571K shares, representing a decrease of 2.33%. The firm increased its portfolio allocation in GATX by 11.47% over the last quarter.

Gabelli Funds holds 1,232K shares representing 3.49% ownership of the company. In it's prior filing, the firm reported owning 1,247K shares, representing a decrease of 1.24%. The firm increased its portfolio allocation in GATX by 16.28% over the last quarter.

GATX Background Information
(This description is provided by the company.)

GATX Corporation strives to be recognized as the finest railcar leasing company in the world by its customers, its shareholders, its employees and the communities where GATX operates. As the leading global railcar lessor, GATX has been providing quality railcars and services to its customers for over 122 years. GATX has been headquartered in Chicago, Illinois since its founding in 1898.

This story originally appeared on Fintel.