Insider Selling: Ryder System (NYSE:R) Insider Sells $7,411,991.50 in Stock

Ryder System, Inc. (NYSE:R) insider Robert Sanchez sold 26,350 shares of Ryder System stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $281.29, for a total value of $7,411,991.50. Following the completion of the sale, the insider directly owned 42,481 shares in the company, valued at $11,949,480.49. This represents a 38.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ryder System Stock Performance

Shares of R stock opened at $282.26 on Friday. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 21.51 and a beta of 1.05. The stock has a 50 day simple moving average of $245.00 and a 200-day simple moving average of $237.18. Ryder System, Inc. has a 12-month low of $161.41 and a 12-month high of $287.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.86.

Ryder System (NYSE:R) last posted its quarterly earnings results on Thursday, October 22nd. The transportation company reported $4.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $0.18. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.38 billion. Ryder System had a return on equity of 19.14% and a net margin of 3.98%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.57 earnings per share. On average, equities analysts forecast that Ryder System, Inc. will post 15.07 EPS for the current year.

Ryder System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, November 23rd will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, November 23rd. Ryder System’s dividend payout ratio (DPR) is currently 30.79%.

Analysts Set New Price Targets

A number of research analysts have issued reports on R shares. Citizens Jmp initiated coverage on shares of Ryder System in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Wall Street Zen raised Ryder System from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 12th. Barclays raised their price objective on Ryder System from $300.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Robert W. Baird cut Ryder System from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $290.00 to $245.00 in a report on Tuesday, September 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ryder System in a research report on Monday, August 24th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $296.67.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its position in shares of Ryder System by 36.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 160 shares of the transportation company’s stock worth $42,000 after acquiring an additional 43 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Ryder System by 19.2% in the third quarter. Versant Capital Management Inc now owns 317 shares of the transportation company’s stock worth $72,000 after purchasing an additional 51 shares in the last quarter. Quantum Portfolio Management LLC grew its stake in Ryder System by 2.1% in the first quarter. Quantum Portfolio Management LLC now owns 2,564 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 52 shares in the last quarter. Corient Private Wealth LLC increased its position in Ryder System by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 7,337 shares of the transportation company’s stock worth $1,404,000 after buying an additional 58 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Ryder System by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 9,441 shares of the transportation company’s stock valued at $2,490,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

About Ryder System

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.