Independent Advisor Alliance Sells 3,505 Shares of Ryder System, Inc. (NYSE:R)

Key Points

• Independent Advisor Alliance reduced its stake in Ryder System, Inc. by 41.1%, selling 3,505 shares during the first quarter, leaving them with holdings worth $721,000.
• Several institutional investors have increased or initiated their stakes in Ryder System, with institutional ownership now at 87.47%.
• Ryder System recently announced a quarterly dividend increase from $0.81 to $0.91 per share, representing a yield of 2.0%.

Independent Advisor Alliance lowered its stake in shares of Ryder System, Inc. (NYSE:R - Free Report) by 41.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,016 shares of the transportation company's stock after selling 3,505 shares during the quarter. Independent Advisor Alliance's holdings in Ryder System were worth $721,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ryder System in the first quarter valued at approximately $26,000. TCTC Holdings LLC boosted its position in shares of Ryder System by 116.5% in the first quarter. TCTC Holdings LLC now owns 223 shares of the transportation company's stock valued at $32,000 after acquiring an additional 120 shares during the period. Curat Global LLC bought a new stake in shares of Ryder System in the first quarter valued at approximately $55,000. Kapitalo Investimentos Ltda bought a new stake in shares of Ryder System in the fourth quarter valued at approximately $59,000. Finally, Headlands Technologies LLC bought a new stake in shares of Ryder System in the first quarter valued at approximately $86,000. Institutional investors own 87.47% of the company's stock.

Insiders Place Their Bets

In other news, Director E Follin Smith sold 5,523 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $177.66, for a total value of $981,216.18. Following the completion of the sale, the director directly owned 33,779 shares in the company, valued at approximately $6,001,177.14. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Cristina Gallo-Aquino sold 1,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $180.87, for a total value of $180,870.00. Following the completion of the sale, the chief financial officer owned 26,561 shares of the company's stock, valued at approximately $4,804,088.07. This trade represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,582 shares of company stock worth $8,158,745 over the last three months. 5.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on R shares. Baird R W raised Ryder System to a "strong-buy" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. increased their price objective on Ryder System from $165.00 to $173.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Robert W. Baird upped their target price on Ryder System from $186.00 to $192.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Susquehanna started coverage on Ryder System in a research note on Tuesday, July 15th. They issued a "positive" rating and a $215.00 target price for the company. Finally, Barclays started coverage on Ryder System in a research note on Monday, June 9th. They issued an "overweight" rating and a $190.00 target price for the company. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $186.50.

Ryder System Stock Performance

Ryder System stock opened at $183.60 on Thursday. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a fifty day moving average price of $166.90 and a two-hundred day moving average price of $155.27. Ryder System, Inc. has a 52-week low of $125.54 and a 52-week high of $184.76. The firm has a market capitalization of $7.49 billion, a P/E ratio of 15.61 and a beta of 1.00.

Ryder System (NYSE:R - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.21. Ryder System had a return on equity of 17.83% and a net margin of 3.99%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same period in the prior year, the company posted $3.00 earnings per share. The business's revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts anticipate that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.

Ryder System Increases Dividend

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

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.

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