PNC Financial Services Group Inc. Sells 284 Shares of Ryder System, Inc. (NYSE:R)

PNC Financial Services Group Inc. lowered its holdings in Ryder System, Inc. (NYSE:R) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,282 shares of the transportation company’s stock after selling 284 shares during the period. PNC Financial Services Group Inc.’s holdings in Ryder System were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in R. Contravisory Investment Management Inc. bought a new position in shares of Ryder System in the 4th quarter valued at about $26,000. GAMMA Investing LLC bought a new position in shares of Ryder System in the 4th quarter valued at about $45,000. Creekmur Asset Management LLC bought a new position in shares of Ryder System in the 4th quarter valued at about $68,000. Quent Capital LLC grew its position in shares of Ryder System by 17.7% in the 4th quarter. Quent Capital LLC now owns 745 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 112 shares during the period. Finally, Gladius Capital Management LP bought a new position in shares of Ryder System in the 4th quarter valued at about $102,000. Institutional investors own 87.47% of the company’s stock.

Analysts Set New Price Targets

R has been the subject of a number of analyst reports. Stephens lifted their price objective on shares of Ryder System from $113.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. StockNews.com raised shares of Ryder System from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley assumed coverage on shares of Ryder System in a report on Monday, June 24th. They set an “overweight” rating and a $165.00 target price for the company. The Goldman Sachs Group lifted their target price 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ryder System from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ryder System presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.86.

Ryder System Price Performance

Shares of Ryder System stock opened at $122.69 on Tuesday. Ryder System, Inc. has a twelve month low of $82.46 and a twelve month high of $128.85. 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 company has a 50-day simple moving average of $122.56 and a two-hundred day simple moving average of $117.18. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 15.98 and a beta of 1.32.

Ryder System (NYSE:R) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company earned $2.81 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Analysts forecast that Ryder System, Inc. will post 12.26 EPS for the current year.

Ryder System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, May 20th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, May 17th. Ryder System’s payout ratio is presently 36.98%.

Insider Activity

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

About Ryder System

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.