Ryder System, Inc. (NYSE:R) Stake Reduced by American International Group Inc.

American International Group Inc. decreased its holdings in Ryder System, Inc. (NYSE:R) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,664 shares of the transportation company’s stock after selling 1,201 shares during the quarter. American International Group Inc. owned 0.13% of Ryder System worth $7,051,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC bought a new position in Ryder System during the fourth quarter valued at about $45,000. Creekmur Asset Management LLC bought a new position in Ryder System during the fourth quarter valued at about $68,000. CWM LLC boosted its stake in Ryder System by 62.0% during the first quarter. CWM LLC now owns 643 shares of the transportation company’s stock valued at $77,000 after buying an additional 246 shares in the last quarter. Quent Capital LLC boosted its stake in Ryder System by 17.7% during the fourth quarter. Quent Capital LLC now owns 745 shares of the transportation company’s stock valued at $86,000 after buying an additional 112 shares in the last quarter. Finally, Gladius Capital Management LP bought a new position in Ryder System during the fourth quarter valued at about $102,000. Institutional investors own 87.47% of the company’s stock.

Analyst Upgrades and Downgrades

R has been the subject of several research reports. The Goldman Sachs Group raised their target price on Ryder System from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Morgan Stanley began coverage on Ryder System in a report on Monday, June 24th. They set an “overweight” rating and a $165.00 target price for the company. Stephens began coverage on Ryder System in a report on Monday, July 8th. They set an “equal weight” rating for the company. JPMorgan Chase & Co. reduced their target price on Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Vertical Research raised Ryder System from a “hold” rating to a “buy” rating and upped their target price for the company from $125.00 to $145.00 in a report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ryder System currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.71.

Ryder System Trading Up 1.6 %

Shares of NYSE R opened at $132.00 on Friday. The business has a fifty day simple moving average of $123.69 and a 200-day simple moving average of $118.77. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 17.19 and a beta of 1.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.22. Ryder System, Inc. has a 12 month low of $91.31 and a 12 month high of $136.41.

Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.43. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.81 EPS. Sell-side analysts predict that Ryder System, Inc. will post 12.17 EPS for the current year.

Ryder System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 19th will be paid a $0.81 dividend. This is an increase from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, August 19th. Ryder System’s dividend payout ratio is currently 36.98%.

Insider Buying and Selling

In related news, Director Luis P. Nieto, Jr. sold 1,443 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $125.61, for a total value of $181,255.23. Following the completion of the sale, the director now directly owns 28,569 shares of the company’s stock, valued at approximately $3,588,552.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Luis P. Nieto, Jr. sold 1,443 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $125.61, for a total transaction of $181,255.23. Following the completion of the sale, the director now directly owns 28,569 shares of the company’s stock, valued at approximately $3,588,552.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sanford J. Hodes sold 3,360 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.59, for a total value of $421,982.40. Following the completion of the sale, the senior vice president now directly owns 24,119 shares of the company’s stock, valued at approximately $3,029,105.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,129 shares of company stock valued at $10,598,226. Corporate insiders own 5.10% of the company’s stock.

About Ryder System

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.