Swiss National Bank Sells 3,200 Shares of Ryder System, Inc. $R

Key Points

• The Swiss National Bank decreased its stake in Ryder System by 3.8%, owning 81,938 shares valued at approximately $11.78 million after selling 3,200 shares.
• Analysts have been bullish on Ryder System, with multiple firms increasing their price targets, notably Morgan Stanley raising it from $175.00 to $190.00, and the stock receiving an "overweight" rating from Barclays.
• Ryder System has increased its quarterly dividend from $0.81 to $0.91 per share, representing a yield of 2.0% and a payout ratio of 27.55%.

Swiss National Bank cut its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,938 shares of the transportation company's stock after selling 3,200 shares during the quarter. Swiss National Bank owned approximately 0.20% of Ryder System worth $11,784,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in R. Bank of Montreal Can boosted its stake in Ryder System by 6.4% during the 4th quarter. Bank of Montreal Can now owns 6,674 shares of the transportation company's stock valued at $1,047,000 after acquiring an additional 403 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Ryder System in the 4th quarter valued at about $6,868,000. Barclays PLC lifted its position in Ryder System by 39.4% in the 4th quarter. Barclays PLC now owns 40,105 shares of the transportation company's stock valued at $6,292,000 after purchasing an additional 11,325 shares during the last quarter. Guggenheim Capital LLC lifted its position in Ryder System by 30.8% in the 4th quarter. Guggenheim Capital LLC now owns 10,153 shares of the transportation company's stock valued at $1,593,000 after purchasing an additional 2,393 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in Ryder System in the 4th quarter valued at about $421,000. 87.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director E Follin Smith sold 5,523 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $177.66, for a total transaction of $981,216.18. Following the completion of the sale, the director owned 33,779 shares in the company, valued at $6,001,177.14. This trade represents a 14.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert E. Sanchez sold 22,063 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $182.49, for a total value of $4,026,276.87. Following the sale, the chief executive officer directly owned 62,887 shares of the company's stock, valued at $11,476,248.63. This represents a 25.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,082 shares of company stock worth $9,340,250. Company insiders own 5.20% of the company's stock.

Ryder System Stock Performance

Ryder System stock traded down $0.59 during trading hours on Monday, hitting $178.52. The stock had a trading volume of 67,766 shares, compared to its average volume of 376,820. The company has a 50-day moving average of $168.16 and a two-hundred day moving average of $155.47. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.27. The company has a market cap of $7.28 billion, a PE ratio of 15.16 and a beta of 1.00. Ryder System, Inc. has a fifty-two week low of $125.54 and a fifty-two week high of $184.76.

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

Ryder System Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on R shares. JPMorgan Chase & Co. boosted their price target on shares of Ryder System from $165.00 to $173.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley lifted their target price on shares of Ryder System from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Robert W. Baird upped their price objective on shares of Ryder System from $186.00 to $192.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Wolfe Research upgraded 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 note on Tuesday, July 1st. Finally, Susquehanna began coverage on shares of Ryder System in a research report on Tuesday, July 15th. They issued a "positive" rating and a $215.00 target price for the company. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ryder System currently has a consensus rating of "Moderate Buy" and an average price target of $186.50.

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.