Millennium Management LLC Purchases 98,777 Shares of Ryder System, Inc. (NYSE:R)

Millennium Management LLC raised its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 1,915.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,935 shares of the transportation company's stock after buying an additional 98,777 shares during the quarter. Millennium Management LLC owned about 0.24% of Ryder System worth $12,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Ryder System by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,516 shares of the transportation company's stock worth $4,510,000 after purchasing an additional 106 shares during the period. CWM LLC increased its holdings in Ryder System by 17.9% in the 2nd quarter. CWM LLC now owns 758 shares of the transportation company's stock worth $94,000 after acquiring an additional 115 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Ryder System by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 8,739 shares of the transportation company's stock worth $1,083,000 after acquiring an additional 126 shares during the last quarter. Retirement Systems of Alabama lifted its position in Ryder System by 0.3% during the first quarter. Retirement Systems of Alabama now owns 55,658 shares of the transportation company's stock valued at $6,690,000 after purchasing an additional 146 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Ryder System by 44.0% during the 2nd quarter. GAMMA Investing LLC now owns 589 shares of the transportation company's stock worth $73,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company's stock.

Analyst Upgrades and Downgrades

R has been the subject of several analyst reports. Morgan Stanley began coverage on shares of Ryder System in a research note on Monday, June 24th. They issued an "overweight" rating and a $165.00 target price for the company. Vertical Research upgraded shares of Ryder System from a "hold" rating to a "buy" rating and raised their price objective for the stock from $125.00 to $145.00 in a research report on Friday, June 14th. JPMorgan Chase & Co. dropped their price target on shares of Ryder System from $126.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, July 9th. Stephens assumed coverage on shares of Ryder System in a research note on Monday, July 8th. They set an "equal weight" rating on the stock. Finally, StockNews.com cut Ryder System from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Ryder System Price Performance

R stock traded up $2.29 during trading on Monday, hitting $145.97. The company had a trading volume of 195,732 shares, compared to its average volume of 260,862. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 18.84 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, Inc. has a fifty-two week low of $91.31 and a fifty-two week high of $150.00. The business has a 50 day moving average of $139.25 and a 200 day moving average of $128.06.

Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.13. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the business earned $3.61 EPS. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts predict that Ryder System, Inc. will post 12.19 earnings per share for the current year.

Ryder System Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Monday, August 19th were given a $0.81 dividend. This is an increase from Ryder System's previous quarterly dividend of $0.71. This represents a $3.24 annualized dividend and a yield of 2.22%. The ex-dividend date was Monday, August 19th. Ryder System's payout ratio is currently 42.19%.

Insider Activity at Ryder System

In other news, EVP Francisco Jr. Lopez sold 12,730 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $139.32, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.10% of the company's stock.

Ryder System Company 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.