Sit Investment Associates Inc. cut its stake in shares of Ryder System Inc. (NYSE:R) by 38.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 275,725 shares of the company’s stock after selling 173,225 shares during the period. Sit Investment Associates Inc. owned approximately 0.51% of Ryder System worth $16,858,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Japan Co. Ltd boosted its position in shares of Ryder System by 1.4% in the first quarter. BlackRock Japan Co. Ltd now owns 2,735 shares of the company’s stock valued at $177,000 after buying an additional 39 shares during the last quarter. IBM Retirement Fund boosted its position in shares of Ryder System by 2.6% in the second quarter. IBM Retirement Fund now owns 5,404 shares of the company’s stock valued at $330,000 after buying an additional 138 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Ryder System by 0.7% in the second quarter. Retirement Systems of Alabama now owns 27,377 shares of the company’s stock valued at $1,674,000 after buying an additional 197 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Ryder System by 1.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 45,875 shares of the company’s stock valued at $2,805,000 after buying an additional 737 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX boosted its position in shares of Ryder System by 6.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 13,901 shares of the company’s stock valued at $850,000 after buying an additional 877 shares during the last quarter. Institutional investors own 90.95% of the company’s stock.

Institutional Ownership by Quarter for Ryder System (NYSE:R)

Shares of Ryder System Inc. (NYSE:R) traded up 0.16% during midday trading on Thursday, reaching $67.03. 442,974 shares of the company’s stock were exchanged. Ryder System Inc. has a 12 month low of $45.12 and a 12 month high of $76.33. The company has a market cap of $3.58 billion, a P/E ratio of 12.10 and a beta of 1.63. The firm has a 50 day moving average price of $65.37 and a 200 day moving average price of $65.80.

Ryder System (NYSE:R) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.02. Ryder System had a return on equity of 16.21% and a net margin of 4.44%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the business posted $1.65 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Ryder System Inc. will post $5.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Monday, August 22nd were paid a $0.44 dividend. This is a boost from Ryder System’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, August 18th. Ryder System’s payout ratio is currently 31.71%.

Several analysts have issued reports on the stock. Robert W. Baird reaffirmed a “buy” rating on shares of Ryder System in a research report on Monday, June 13th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Ryder System in a research report on Monday, June 13th. Zacks Investment Research lowered shares of Ryder System from a “hold” rating to a “sell” rating in a research report on Friday, August 19th. Finally, Credit Agricole SA began coverage on shares of Ryder System in a research report on Friday, September 30th. They issued a “buy” rating and a $80.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Ryder System currently has an average rating of “Buy” and a consensus price target of $81.38.

Ryder System Company Profile

Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides full service leasing, commercial rental, contract maintenance and contract-related maintenance of trucks, tractors and trailers to customers in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.

5 Day Chart for NYSE:R

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