Federated Hermes Inc. Sells 7,168 Shares of Ryder System, Inc. (NYSE:R)

Key Points

• Federated Hermes Inc. has reduced its stake in Ryder System by 48.1%, now holding 7,731 shares valued at approximately $1.11 million.
• Ryder System has declared a quarterly dividend of $0.91, up from $0.81, resulting in an annualized yield of 2.0%.
• The stock's latest earnings report revealed a $3.32 EPS, surpassing analysts' expectations and indicating a 0.2% increase in revenue compared to the previous year.

Federated Hermes Inc. lowered its position in Ryder System, Inc. (NYSE:R - Free Report) by 48.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,731 shares of the transportation company's stock after selling 7,168 shares during the period. Federated Hermes Inc.'s holdings in Ryder System were worth $1,112,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. LPL Financial LLC boosted its stake in Ryder System by 12.0% in the 4th quarter. LPL Financial LLC now owns 14,552 shares of the transportation company's stock worth $2,283,000 after purchasing an additional 1,557 shares during the period. JPMorgan Chase & Co. boosted its stake in Ryder System by 2.8% in the 4th quarter. JPMorgan Chase & Co. now owns 149,415 shares of the transportation company's stock worth $23,437,000 after purchasing an additional 4,062 shares during the period. World Investment Advisors acquired a new position in shares of Ryder System during the 4th quarter worth about $351,000. FMR LLC boosted its stake in shares of Ryder System by 3.1% during the 4th quarter. FMR LLC now owns 805,571 shares of the transportation company's stock worth $126,362,000 after buying an additional 24,052 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Ryder System by 6.4% during the 4th quarter. Bank of Montreal Can now owns 6,674 shares of the transportation company's stock worth $1,047,000 after buying an additional 403 shares during the last quarter. Institutional investors own 87.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on R shares. Susquehanna initiated coverage on shares of Ryder System in a report on Tuesday, July 15th. They issued a "positive" rating and a $215.00 target price on the stock. Robert W. Baird increased their price target on shares of Ryder System from $186.00 to $192.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Stephens increased their price target on shares of Ryder System from $150.00 to $190.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Morgan Stanley raised their target price on shares of Ryder System from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Baird R W raised shares of Ryder System to a "strong-buy" rating in a report on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $186.50.

Insider Activity

In related news, Director E Follin Smith sold 5,523 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $177.66, for a total transaction of $981,216.18. Following the sale, the director owned 33,779 shares of the company's stock, valued at approximately $6,001,177.14. This represents a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert E. Sanchez sold 22,063 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $182.49, for a total transaction of $4,026,276.87. Following the completion of the transaction, the chief executive officer directly owned 62,887 shares in the company, valued at $11,476,248.63. The trade was a 25.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,582 shares of company stock valued at $8,158,745 over the last quarter. Company insiders own 5.20% of the company's stock.

Ryder System Stock Up 1.1%

Ryder System stock traded up $1.85 during midday trading on Friday, hitting $177.64. 357,202 shares of the stock were exchanged, compared to its average volume of 436,165. Ryder System, Inc. has a 52-week low of $125.54 and a 52-week high of $184.76. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 15.11 and a beta of 1.00. The business's 50-day moving average price is $165.07 and its 200-day moving average price is $154.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.27.

Ryder System (NYSE:R - Get Free Report) last released its earnings results on Thursday, July 24th. The transportation company reported $3.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.11 by $0.21. The firm had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $3.17 billion. Ryder System had a net margin of 3.99% and a return on equity of 17.83%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $3.00 earnings per share. On average, research analysts expect that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.

Ryder System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 18th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. This is an increase from Ryder System's previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, August 18th. Ryder System's payout ratio is presently 27.55%.

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.