State Treasurer State of Michigan Has $1.68 Million Position in Ryder System, Inc. (R)

State Treasurer State of Michigan trimmed its holdings in Ryder System, Inc. (NYSE:R) by 10.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 19,900 shares of the transportation company’s stock after selling 2,200 shares during the period. State Treasurer State of Michigan’s holdings in Ryder System were worth $1,683,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Shell Asset Management Co. grew its position in Ryder System by 509.3% in the third quarter. Shell Asset Management Co. now owns 36,097 shares of the transportation company’s stock worth $3,248,000 after acquiring an additional 30,173 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Ryder System by 1,152.2% during the second quarter. Ameritas Investment Partners Inc. now owns 16,028 shares of the transportation company’s stock worth $1,154,000 after buying an additional 14,748 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Ryder System by 9.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 25,412 shares of the transportation company’s stock worth $1,829,000 after buying an additional 2,204 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Ryder System by 14.3% during the second quarter. Coldstream Capital Management Inc. now owns 8,709 shares of the transportation company’s stock worth $627,000 after buying an additional 1,088 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Ryder System by 24.9% during the second quarter. The Manufacturers Life Insurance Company now owns 87,298 shares of the transportation company’s stock worth $6,284,000 after buying an additional 17,406 shares during the period. Institutional investors own 89.64% of the company’s stock.

Several research analysts have recently commented on the company. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered Ryder System from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. KeyCorp upgraded Ryder System from a “sector weight” rating to an “overweight” rating in a research report on Wednesday, September 13th. Robert W. Baird restated an “outperform” rating and set a $98.00 price target (up from $84.00) on shares of Ryder System in a research report on Monday, October 2nd. Finally, BidaskClub upgraded Ryder System from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ryder System presently has a consensus rating of “Buy” and an average price target of $85.00.

In other Ryder System news, insider Dennis C. Cooke sold 32,328 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $81.46, for a total value of $2,633,438.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Karen M. Jones sold 4,790 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $81.78, for a total value of $391,726.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,620 shares of company stock worth $3,353,856. 1.95% of the stock is owned by insiders.

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Shares of Ryder System, Inc. (R) opened at $82.34 on Friday. The company has a market cap of $4,359.74, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.02 and a quick ratio of 0.96.

Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Ryder System had a return on equity of 10.72% and a net margin of 2.75%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.67 earnings per share. research analysts expect that Ryder System, Inc. will post 4.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 20th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, November 17th. Ryder System’s dividend payout ratio is presently 49.86%.

About Ryder System

Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.

Institutional Ownership by Quarter for Ryder System (NYSE:R)

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