Kendall Capital Management Sells 165 Shares of Ryder System, Inc. (NYSE:R)

Kendall Capital Management cut its holdings in Ryder System, Inc. (NYSE:R) by 0.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,895 shares of the transportation company’s stock after selling 165 shares during the period. Kendall Capital Management’s holdings in Ryder System were worth $2,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings 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 valued at $396,099,000 after purchasing an additional 890,986 shares during the period. Norges Bank bought a new position in Ryder System in the 4th quarter valued at $86,647,000. Sei Investments Co. boosted its holdings in Ryder System by 29.1% in the 4th quarter. Sei Investments Co. now owns 756,302 shares of the transportation company’s stock valued at $87,024,000 after purchasing an additional 170,650 shares during the period. Vanguard Group Inc. boosted its holdings in Ryder System by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock valued at $627,800,000 after purchasing an additional 109,930 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Ryder System by 242.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 92,666 shares of the transportation company’s stock valued at $11,138,000 after buying an additional 65,609 shares in the last quarter. 87.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

R has been the topic of several research reports. StockNews.com cut shares of Ryder System from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lowered their price objective on shares of Ryder System from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Stephens initiated coverage on shares of Ryder System in a research report on Monday, July 8th. They set an “equal weight” rating on the stock. Morgan Stanley began coverage on shares of Ryder System in a research report on Monday, June 24th. They set an “overweight” rating and a $165.00 price objective on the stock. Finally, Vertical Research upgraded shares of 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. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Ryder System has an average rating of “Moderate Buy” and an average price target of $137.86.

Ryder System Price Performance

R stock opened at $143.09 on Thursday. The firm’s 50-day moving average price is $135.44 and its two-hundred day moving average price is $125.17. Ryder System, Inc. has a 12-month low of $91.31 and a 12-month high of $145.61. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 18.63 and a beta of 1.28. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.09.

Ryder System (NYSE:R) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.13. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the company earned $3.61 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts predict that Ryder System, Inc. will post 12.19 earnings per share for the current year.

Ryder System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Monday, August 19th will be given a $0.81 dividend. This is a boost from Ryder System’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.26%. Ryder System’s payout ratio is presently 42.19%.

Insider Buying and Selling at Ryder System

In other news, EVP Francisco Jr. Lopez sold 12,730 shares of Ryder System stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the sale, the executive vice president now owns 47,779 shares of the company’s stock, valued at approximately $6,656,570.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

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.