Ryder System, Inc. $R Stock Sold by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. reduced its Ryder System stake by 36.6% in the third quarter, selling 4,757 shares and retaining 8,225 shares valued at approximately $1.87 million. Institutional investors collectively own 87.47% of the company.
• Ryder reported quarterly earnings of $4.33 per share, exceeding estimates of $4.15, while revenue rose 8.3% year over year to $3.43 billion. The company declared a quarterly dividend of $1.01, equivalent to a 1.4% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $296.67, although insiders sold more than 35,000 shares worth roughly $10.1 million over the past three months.

Asset Management One Co. Ltd. lessened its position in shares of Ryder System, Inc. (NYSE:R - Free Report) by 36.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,225 shares of the transportation company's stock after selling 4,757 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Ryder System were worth $1,874,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in R. BlackRock Inc. purchased a new position in shares of Ryder System in the second quarter worth about $1,060,749,000. Dimensional Fund Advisors LP lifted its holdings in shares of Ryder System by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,621,947 shares of the transportation company's stock worth $331,996,000 after purchasing an additional 6,652 shares during the period. First Trust Advisors LP lifted its holdings in shares of Ryder System by 81.5% during the first quarter. First Trust Advisors LP now owns 1,010,320 shares of the transportation company's stock worth $206,822,000 after purchasing an additional 453,697 shares during the period. Bank of America Corp DE purchased a new stake in Ryder System in the second quarter valued at approximately $207,689,000. Finally, Bank of New York Mellon Corp purchased a new stake in Ryder System in the second quarter valued at approximately $136,320,000. Hedge funds and other institutional investors own 87.47% of the company's stock.

Ryder System Stock Up 1.3%

Shares of R opened at $286.35 on Tuesday. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 21.83 and a beta of 1.05. Ryder System, Inc. has a 52 week low of $161.41 and a 52 week high of $291.03. The stock's 50-day moving average price is $245.73 and its 200-day moving average price is $237.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.86.

Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The transportation company reported $4.33 earnings per share for the quarter, beating the consensus estimate of $4.15 by $0.18. Ryder System had a return on equity of 19.14% and a net margin of 3.98%. The company had revenue of $3.43 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same period last year, the business earned $3.57 earnings per share. Ryder System's quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts predict that Ryder System, Inc. will post 15.07 EPS for the current year.

Ryder System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 23rd will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 23rd. Ryder System's payout ratio is currently 30.79%.

Insiders Place Their Bets

In related news, insider Robert E. Sanchez sold 1,653 shares of the firm's stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $280.01, for a total transaction of $462,856.53. Following the sale, the insider owned 40,828 shares in the company, valued at approximately $11,432,248.28. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cristina Gallo-Aquino sold 1,238 shares of Ryder System stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $276.85, for a total transaction of $342,740.30. Following the completion of the transaction, the chief financial officer directly owned 29,026 shares of the company's stock, valued at $8,035,848.10. The trade was a 4.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,852 shares of company stock worth $10,092,270 over the last three months. 4.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citizens Jmp assumed coverage on shares of Ryder System in a report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Robert W. Baird cut shares of Ryder System from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $290.00 to $245.00 in a research note on Tuesday, September 29th. Janney Montgomery Scott set a $285.00 price objective on shares of Ryder System in a report on Thursday, October 8th. Susquehanna upped their price objective on shares of Ryder System from $280.00 to $318.00 and gave the company a "positive" rating in a report on Tuesday, October 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Ryder System in a research note on Monday, August 24th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $296.67.

About Ryder System

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.

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