Goldman Sachs Group Inc. Cuts Position in Ryder System, Inc. (NYSE:R)

Goldman Sachs Group Inc. reduced its position in shares of Ryder System, Inc. (NYSE:R) by 31.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 267,122 shares of the transportation company’s stock after selling 121,588 shares during the quarter. Goldman Sachs Group Inc. owned about 0.61% of Ryder System worth $30,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new stake in Ryder System during the fourth quarter worth approximately $26,000. GAMMA Investing LLC purchased a new stake in Ryder System during the 4th quarter valued at $45,000. Quent Capital LLC lifted its position in Ryder System by 17.7% in the fourth quarter. Quent Capital LLC now owns 745 shares of the transportation company’s stock worth $86,000 after buying an additional 112 shares during the last quarter. Gladius Capital Management LP purchased a new position in Ryder System during the fourth quarter worth $102,000. Finally, Parallel Advisors LLC increased its position in Ryder System by 8.7% during the fourth quarter. Parallel Advisors LLC now owns 1,455 shares of the transportation company’s stock valued at $167,000 after acquiring an additional 116 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Ryder System Stock Up 0.1 %

Ryder System stock opened at $121.00 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.22. The firm has a market cap of $5.30 billion, a P/E ratio of 15.76 and a beta of 1.32. Ryder System, Inc. has a twelve month low of $81.10 and a twelve month high of $128.85. The business has a fifty day moving average of $120.93 and a two-hundred day moving average of $116.44.

Ryder System (NYSE:R) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the business earned $2.81 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, analysts forecast that Ryder System, Inc. will post 12.1 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, May 20th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, May 17th. This represents a $2.84 annualized dividend and a yield of 2.35%. Ryder System’s dividend payout ratio (DPR) is 36.98%.

Insider Activity at Ryder System

In related news, Director E Follin Smith sold 3,671 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $119.16, for a total value of $437,436.36. Following the completion of the transaction, the director now directly owns 38,413 shares of the company’s stock, valued at approximately $4,577,293.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director E Follin Smith sold 3,671 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $119.16, for a total value of $437,436.36. Following the transaction, the director now directly owns 38,413 shares of the company’s stock, valued at approximately $4,577,293.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas M. Havens sold 8,000 shares of Ryder System stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $119.40, for a total value of $955,200.00. Following the sale, the insider now directly owns 24,401 shares of the company’s stock, valued at approximately $2,913,479.40. The disclosure for this sale can be found here. Insiders have sold 95,800 shares of company stock valued at $11,990,862 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on R. JPMorgan Chase & Co. lifted their price target on shares of Ryder System from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. StockNews.com raised Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Stephens boosted their price objective on Ryder System from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Vertical Research upgraded Ryder System from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $145.00 in a research report on Friday, June 14th. Finally, The Goldman Sachs Group upped their price target on shares of Ryder System from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.00.

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.