Franklin Resources Inc. Acquires 17,074 Shares of Ryder System, Inc. (NYSE:R)

Franklin Resources Inc. lifted its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 14.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,781 shares of the transportation company's stock after acquiring an additional 17,074 shares during the quarter. Franklin Resources Inc. owned approximately 0.32% of Ryder System worth $20,724,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Ryder System in the third quarter valued at $34,000. Sanctuary Advisors LLC grew its stake in Ryder System by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,826 shares of the transportation company's stock valued at $1,141,000 after buying an additional 131 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Ryder System by 18.3% during the third quarter. TD Private Client Wealth LLC now owns 1,056 shares of the transportation company's stock worth $154,000 after acquiring an additional 163 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ryder System by 0.8% during the third quarter. Geode Capital Management LLC now owns 722,689 shares of the transportation company's stock worth $105,397,000 after acquiring an additional 5,860 shares during the period. Finally, Barclays PLC grew its position in shares of Ryder System by 13.1% in the third quarter. Barclays PLC now owns 28,780 shares of the transportation company's stock valued at $4,196,000 after purchasing an additional 3,344 shares during the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ryder System news, insider Thomas M. Havens sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $157.44, for a total value of $629,760.00. Following the sale, the insider now owns 20,504 shares in the company, valued at $3,228,149.76. This trade represents a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

R has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Ryder System from $160.00 to $183.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. lowered their price target on shares of Ryder System from $148.00 to $144.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com downgraded shares of Ryder System from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $147.43.

Ryder System Price Performance

R remained flat at $155.66 on Friday. 1,240,513 shares of the company traded hands, compared to its average volume of 268,275. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.17. Ryder System, Inc. has a 1-year low of $106.62 and a 1-year high of $171.78. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 14.56 and a beta of 1.30. The company has a 50 day moving average of $158.11 and a 200-day moving average of $141.87.

Ryder System (NYSE:R - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The transportation company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.39 by $0.05. Ryder System had a net margin of 3.83% and a return on equity of 16.78%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $3.58 EPS. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts expect that Ryder System, Inc. will post 12.01 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.08%. Ryder System's dividend payout ratio (DPR) is currently 30.31%.

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.