Cresset Asset Management LLC Lowers Holdings in Ryder System, Inc. (NYSE:R)

Cresset Asset Management LLC reduced its stake in Ryder System, Inc. (NYSE:R - Free Report) by 75.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,494 shares of the transportation company's stock after selling 4,549 shares during the period. Cresset Asset Management LLC's holdings in Ryder System were worth $234,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of R. Wealthfront Advisers LLC purchased a new stake in Ryder System in the fourth quarter valued at about $314,075,000. Norges Bank purchased a new position in shares of Ryder System during the 4th quarter worth approximately $97,844,000. Pacific Heights Asset Management LLC lifted its stake in Ryder System by 125.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 180,000 shares of the transportation company's stock worth $28,235,000 after acquiring an additional 100,000 shares in the last quarter. Northern Trust Corp raised its position in Ryder System by 28.1% in the 4th quarter. Northern Trust Corp now owns 447,890 shares of the transportation company's stock valued at $70,256,000 after purchasing an additional 98,196 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Ryder System by 2,500.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 91,393 shares of the transportation company's stock worth $14,336,000 after purchasing an additional 87,879 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com downgraded shares of Ryder System from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. 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. Finally, JPMorgan Chase & Co. reduced their price objective on Ryder System from $174.00 to $165.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $160.50.

Insider Buying and Selling

In other Ryder System news, Director E Follin Smith sold 1,243 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $144.38, for a total transaction of $179,464.34. Following the sale, the director now directly owns 39,802 shares of the company's stock, valued at $5,746,612.76. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is currently owned by company insiders.

Ryder System Stock Down 0.9%

Shares of NYSE:R traded down $1.41 during mid-day trading on Tuesday, hitting $154.87. 272,652 shares of the company traded hands, compared to its average volume of 317,813. The stock has a 50-day moving average price of $142.71 and a two-hundred day moving average price of $154.39. Ryder System, Inc. has a 12-month low of $116.58 and a 12-month high of $171.78. The stock has a market cap of $6.40 billion, a P/E ratio of 13.96 and a beta of 0.94. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.14.

Ryder System (NYSE:R - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. Ryder System had a return on equity of 17.23% and a net margin of 3.87%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 EPS. On average, equities research analysts forecast that Ryder System, Inc. will post 13.68 earnings per share for the current year.

Ryder System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 19th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.09%. Ryder System's payout ratio is currently 28.25%.

Ryder System 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.