Ryder System, Inc. $R Stock: Ethic Inc. Grows Stake

Ethic Inc. grew its holdings in shares of Ryder System, Inc. (NYSE:R) by 22.4% in the third quarter, HoldingsChannel reports. The fund owned 14,174 shares of the transportation company’s stock after purchasing an additional 2,594 shares during the quarter. Ethic Inc.’s holdings in Ryder System were worth $3,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of R. Keating Financial Advisory Services Inc. purchased a new stake in shares of Ryder System in the 2nd quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Ryder System in the 2nd quarter worth $30,000. MassMutual Private Wealth & Trust FSB lifted its position in Ryder System by 36.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 160 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 43 shares in the last quarter. Compass Financial Management LLC purchased a new position in Ryder System during the second quarter valued at $54,000. Finally, Assetmark Inc. grew its holdings in Ryder System by 34.8% during the first quarter. Assetmark Inc. now owns 283 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 73 shares during the period. Institutional investors own 87.47% of the company’s stock.

Analysts Set New Price Targets

R has been the subject of a number of analyst reports. Wall Street Zen upgraded Ryder System from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 12th. Citizens Jmp began coverage on Ryder System in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Robert W. Baird cut Ryder System from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $290.00 to $245.00 in a research report on Tuesday, September 29th. JPMorgan Chase & Co. boosted their price objective on Ryder System from $298.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Finally, Susquehanna increased their target price on shares of Ryder System from $280.00 to $318.00 and gave the stock a “positive” rating in a report on Tuesday, October 27th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $296.67.

Insider Buying and Selling

In other news, insider Robert E. Sanchez sold 1,653 shares of Ryder System stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $280.01, for a total value of $462,856.53. Following the completion of the transaction, the insider owned 40,828 shares in the company, valued at approximately $11,432,248.28. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cristina Gallo-Aquino sold 1,238 shares of Ryder System stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $276.85, for a total value of $342,740.30. Following the completion of the transaction, the chief financial officer owned 29,026 shares of the company’s stock, valued at approximately $8,035,848.10. This trade represents a 4.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 44,384 shares of company stock valued at $12,522,852. Insiders own 4.90% of the company’s stock.

Ryder System Stock Performance

Ryder System stock opened at $281.37 on Wednesday. The company’s 50-day moving average price is $249.38 and its 200-day moving average price is $240.18. Ryder System, Inc. has a twelve month low of $161.41 and a twelve month high of $291.02. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.86. The company has a market cap of $10.75 billion, a PE ratio of 21.45 and a beta of 1.04.

Ryder System (NYSE:R) last announced its earnings results on Thursday, October 22nd. The transportation company reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $0.18. Ryder System had a net margin of 3.98% and a return on equity of 19.14%. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the company earned $3.57 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Ryder System, Inc. will post 15.07 EPS for the current fiscal year.

Ryder System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 23rd will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 23rd. Ryder System’s payout ratio is presently 30.79%.

Ryder System Profile

Ryder System, Inc. is a transportation and logistics company founded in 1933 by James Ryder in Miami, Florida. It serves businesses across the United States, Canada and Mexico. The company’s services include commercial truck leasing and rental, fleet maintenance, and the sale of used vehicles. Ryder also provides supply chain services such as warehousing, distribution and transportation, along with dedicated transportation solutions that manage fleets and drivers for customers. Ryder is organized around Fleet Management Solutions, Supply Chain Solutions and Dedicated Transportation Solutions.