Bank of New York Mellon Corp Raises Stake in Ryder System, Inc. (NYSE:R)

Bank of New York Mellon Corp lifted its holdings in Ryder System, Inc. (NYSE:R - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 527,906 shares of the transportation company's stock after acquiring an additional 27,632 shares during the period. Bank of New York Mellon Corp owned 1.28% of Ryder System worth $75,918,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC bought a new stake in Ryder System in the first quarter worth about $557,000. Nilsine Partners LLC lifted its stake in Ryder System by 8.5% in the first quarter. Nilsine Partners LLC now owns 1,600 shares of the transportation company's stock worth $230,000 after purchasing an additional 125 shares during the last quarter. Blue Trust Inc. lifted its stake in Ryder System by 22.3% in the first quarter. Blue Trust Inc. now owns 5,623 shares of the transportation company's stock worth $809,000 after purchasing an additional 1,026 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Ryder System by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 4,928 shares of the transportation company's stock worth $708,000 after purchasing an additional 105 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Ryder System by 1.8% in the first quarter. QRG Capital Management Inc. now owns 19,879 shares of the transportation company's stock worth $2,859,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 87.47% of the company's stock.

Insider Buying and Selling

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

Ryder System Trading Down 1.2%

Shares of R stock traded down $2.03 during trading hours on Monday, hitting $174.36. The company had a trading volume of 252,078 shares, compared to its average volume of 326,143. The company's fifty day moving average is $155.29 and its 200 day moving average is $152.68. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.73 and a quick ratio of 0.73. Ryder System, Inc. has a fifty-two week low of $123.36 and a fifty-two week high of $177.40. The stock has a market capitalization of $7.21 billion, a PE ratio of 15.20 and a beta of 0.97.

Ryder System (NYSE:R - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 EPS. Research analysts expect that Ryder System, Inc. will post 13.68 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 18th will be given a $0.91 dividend. 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. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.09%. Ryder System's dividend payout ratio is currently 28.25%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Baird R W raised shares of Ryder System to a "strong-buy" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on shares of Ryder System from $165.00 to $173.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Stephens decreased their price target on shares of Ryder System from $168.00 to $150.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Barclays initiated coverage on shares of Ryder System in a report on Monday, June 9th. They set an "overweight" rating and a $190.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Ryder System from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.50.

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.