State of Michigan Retirement System Purchases 300 Shares of Ryder System, Inc. (NYSE:R)

State of Michigan Retirement System increased its position in Ryder System, Inc. (NYSE:R) by 2.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,930 shares of the transportation company’s stock after buying an additional 300 shares during the period. State of Michigan Retirement System’s holdings in Ryder System were worth $1,314,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in Ryder System in the 4th quarter worth $1,892,000. Amalgamated Bank lifted its stake in Ryder System by 12.7% in the 4th quarter. Amalgamated Bank now owns 33,896 shares of the transportation company’s stock worth $3,900,000 after purchasing an additional 3,816 shares in the last quarter. Wellington Management Group LLP lifted its stake in Ryder System by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 3,442,545 shares of the transportation company’s stock worth $396,099,000 after purchasing an additional 890,986 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in Ryder System by 82.1% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 21,323 shares of the transportation company’s stock worth $2,453,000 after purchasing an additional 9,616 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Ryder System by 3.8% in the 4th quarter. LSV Asset Management now owns 1,629,618 shares of the transportation company’s stock worth $187,504,000 after purchasing an additional 59,156 shares in the last quarter. Institutional investors own 87.47% of the company’s stock.

Ryder System Stock Performance

Shares of NYSE:R opened at $122.50 on Friday. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 15.95 and a beta of 1.29. Ryder System, Inc. has a 12 month low of $82.46 and a 12 month high of $128.85. The firm’s 50-day moving average is $122.64 and its 200 day moving average is $117.42. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.22.

Ryder System (NYSE:R) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.71 by $0.43. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 EPS. Research analysts predict that Ryder System, Inc. will post 12.27 EPS for the current year.

Ryder System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Monday, May 20th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.84 dividend on an annualized basis and a yield of 2.32%. Ryder System’s dividend payout ratio is currently 36.98%.

Insiders Place Their Bets

In other Ryder System news, Director E Follin Smith sold 3,671 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were 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 in the company, valued at approximately $4,577,293.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Robert E. Sanchez sold 11,992 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $127.08, for a total transaction of $1,523,943.36. Following the transaction, the chief executive officer now directly owns 125,969 shares in the company, valued at $16,008,140.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $437,436.36. Following the transaction, the director now owns 38,413 shares in the company, valued at $4,577,293.08. The disclosure for this sale can be found here. Insiders have sold 95,800 shares of company stock worth $11,990,862 in the last three months. Corporate insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on R shares. Stephens upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of Ryder System from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com upgraded shares of Ryder System from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Morgan Stanley started coverage on shares of Ryder System in a research report on Monday, June 24th. They set an “overweight” rating and a $165.00 target price on the stock. Finally, Vertical Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and upped their target price for the company from $125.00 to $145.00 in a research report on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.86.

Ryder System 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.