Principal Financial Group Inc. Decreases Stake in GATX Co. (NYSE:GATX)

Principal Financial Group Inc. reduced its position in GATX Co. (NYSE:GATX – Get Rating) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,078 shares of the transportation company’s stock after selling 7,412 shares during the period. Principal Financial Group Inc.’s holdings in GATX were worth $14,577,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. NorthCrest Asset Manangement LLC lifted its position in shares of GATX by 1.0% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,770 shares of the transportation company’s stock worth $1,039,000 after purchasing an additional 100 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of GATX by 4.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,691 shares of the transportation company’s stock valued at $229,000 after buying an additional 106 shares in the last quarter. Quent Capital LLC increased its holdings in shares of GATX by 9.0% in the third quarter. Quent Capital LLC now owns 1,307 shares of the transportation company’s stock valued at $111,000 after buying an additional 108 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of GATX by 2.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,490 shares of the transportation company’s stock valued at $554,000 after buying an additional 114 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of GATX by 1.1% in the third quarter. Brown Advisory Inc. now owns 10,866 shares of the transportation company’s stock valued at $925,000 after buying an additional 118 shares in the last quarter. Institutional investors own 99.10% of the company’s stock.

GATX Price Performance

GATX opened at $113.40 on Thursday. The company’s 50 day simple moving average is $110.58 and its 200-day simple moving average is $109.99. GATX Co. has a one year low of $84.96 and a one year high of $118.11. The stock has a market capitalization of $4.00 billion, a P/E ratio of 25.77 and a beta of 1.05. The company has a debt-to-equity ratio of 3.04, a current ratio of 2.05 and a quick ratio of 2.05.

GATX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.20 annualized dividend and a yield of 1.94%. GATX’s dividend payout ratio is currently 50.00%.

Analyst Ratings Changes

Several equities analysts have weighed in on GATX shares. Sidoti started coverage on shares of GATX in a research report on Tuesday, March 14th. They set a “buy” rating on the stock. StockNews.com started coverage on shares of GATX in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Susquehanna lifted their price objective on shares of GATX from $115.00 to $118.00 in a research note on Wednesday, April 26th. Finally, Wells Fargo & Company boosted their target price on shares of GATX from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.33.

About GATX

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GATX Corp. engages in leasing and owning railcar and fleets in North America, Europe and Asia. It operates through the following segments: Rail North America, Rail International, and Portfolio Management. The Rail North America segment provides railcars pursuant to full-service leases under which it maintains the railcars and provides other ancillary services.