Ryder System, Inc. (NYSE:R) Stake Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in shares of Ryder System, Inc. (NYSE:R) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,058 shares of the transportation company’s stock after selling 1,562 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ryder System were worth $1,209,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in R. SG Americas Securities LLC grew its holdings in Ryder System by 429.2% in the 1st quarter. SG Americas Securities LLC now owns 12,945 shares of the transportation company’s stock worth $1,556,000 after buying an additional 10,499 shares in the last quarter. Empowered Funds LLC bought a new position in Ryder System in the 1st quarter worth approximately $204,000. AIA Group Ltd bought a new position in Ryder System in the 1st quarter worth approximately $340,000. Texas Permanent School Fund Corp grew its holdings in Ryder System by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 38,790 shares of the transportation company’s stock worth $4,662,000 after buying an additional 501 shares in the last quarter. Finally, Capstone Investment Advisors LLC grew its holdings in Ryder System by 8.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 4,111 shares of the transportation company’s stock worth $494,000 after buying an additional 315 shares in the last quarter. 87.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley assumed coverage on Ryder System in a research note on Monday, June 24th. They set an “overweight” rating and a $165.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Stephens assumed coverage on Ryder System in a research note on Monday, July 8th. They set an “equal weight” rating for the company. The Goldman Sachs Group increased their price target on Ryder System from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Vertical Research upgraded Ryder System from a “hold” rating to a “buy” rating and increased their price objective for the company from $125.00 to $145.00 in a research report on Friday, June 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Ryder System has a consensus rating of “Moderate Buy” and an average target price of $135.71.

Insider Transactions at Ryder System

In other Ryder System news, CMO Karen M. Jones sold 6,776 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $120.44, for a total transaction of $816,101.44. Following the transaction, the chief marketing officer now directly owns 5,666 shares of the company’s stock, valued at $682,413.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CMO Karen M. Jones sold 6,776 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total value of $816,101.44. Following the sale, the chief marketing officer now directly owns 5,666 shares of the company’s stock, valued at $682,413.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert E. Sanchez sold 18,303 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $126.20, for a total value of $2,309,838.60. Following the completion of the sale, the chief executive officer now directly owns 125,969 shares in the company, valued at $15,897,287.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,800 shares of company stock valued at $11,990,862. 5.10% of the stock is owned by insiders.

Ryder System Price Performance

Shares of NYSE:R opened at $128.75 on Monday. The stock has a fifty day moving average of $122.53 and a 200-day moving average of $117.63. The company has a market capitalization of $5.64 billion, a PE ratio of 16.76 and a beta of 1.29. Ryder System, Inc. has a one year low of $85.92 and a one year high of $130.32. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.82 and a current ratio of 0.82.

Ryder System (NYSE:R) last released its earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.06 billion. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 earnings per share. As a group, equities analysts anticipate that Ryder System, Inc. will post 12.27 EPS for the current fiscal year.

Ryder System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 19th will be paid a $0.81 dividend. The ex-dividend date is Monday, August 19th. This is an increase from Ryder System’s previous quarterly dividend of $0.71. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.52%. Ryder System’s dividend payout ratio is 36.98%.

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.