Bank of New York Mellon Corp Purchases 27,632 Shares of Ryder System, Inc. (NYSE:R)

Bank of New York Mellon Corp grew its stake in Ryder System, Inc. (NYSE:R - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 527,906 shares of the transportation company's stock after purchasing an additional 27,632 shares during the quarter. Bank of New York Mellon Corp owned about 1.28% of Ryder System worth $75,918,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in R. Norges Bank bought a new position in shares of Ryder System in the 4th quarter worth about $97,844,000. Leigh Baldwin & CO. LLC bought a new position in shares of Ryder System in the 4th quarter worth about $40,475,000. GAMMA Investing LLC increased its stake in shares of Ryder System by 20,298.3% in the 1st quarter. GAMMA Investing LLC now owns 183,789 shares of the transportation company's stock worth $26,431,000 after acquiring an additional 182,888 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Ryder System in the 4th quarter worth about $16,317,000. Finally, Northern Trust Corp increased its stake in shares of Ryder System by 28.1% in the 4th quarter. Northern Trust Corp now owns 447,890 shares of the transportation company's stock worth $70,256,000 after acquiring an additional 98,196 shares in the last quarter. 87.47% of the stock is currently owned by institutional investors.

Insider Transactions at Ryder System

In related news, Director E Follin Smith sold 1,243 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $144.38, for a total value of $179,464.34. Following the transaction, the director owned 39,802 shares of the company's stock, valued at approximately $5,746,612.76. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert E. Sanchez sold 18,496 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $155.73, for a total transaction of $2,880,382.08. Following the completion of the transaction, the chief executive officer directly owned 40,824 shares in the company, valued at approximately $6,357,521.52. The trade was a 31.18% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company's stock.

Analyst Ratings Changes

R has been the subject of several research reports. Baird R W upgraded shares of Ryder System to a "strong-buy" rating in a research note on Tuesday, July 1st. Stephens cut their price objective on shares of Ryder System from $168.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Wolfe Research raised shares of Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price objective on the stock in a research report on Tuesday, July 1st. Wall Street Zen downgraded shares of Ryder System from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ryder System from $165.00 to $173.00 and gave the company a "neutral" rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $173.50.

Ryder System Stock Performance

Shares of NYSE R traded up $0.24 during trading on Friday, reaching $176.25. 481,580 shares of the company traded hands, compared to its average volume of 326,375. The firm has a 50 day simple moving average of $155.29 and a 200-day simple moving average of $152.73. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $7.29 billion, a PE ratio of 15.37 and a beta of 0.97. Ryder System, Inc. has a 52-week low of $123.36 and a 52-week high of $177.40.

Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.17 billion. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 EPS. Equities research analysts anticipate that Ryder System, Inc. will post 13.68 earnings per share for the current year.

Ryder System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, August 18th. This is an increase from Ryder System's previous quarterly dividend of $0.81. Ryder System's dividend payout ratio (DPR) is presently 28.25%.

Ryder System Company Profile

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.