Raymond James & Associates Boosts Stake in Ryder System, Inc. (NYSE:R)

Raymond James & Associates raised its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 73.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,075 shares of the transportation company's stock after acquiring an additional 13,613 shares during the quarter. Raymond James & Associates owned approximately 0.07% of Ryder System worth $4,677,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in R. Allspring Global Investments Holdings LLC grew its stake in shares of Ryder System by 120.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,437 shares of the transportation company's stock valued at $413,000 after buying an additional 1,880 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Ryder System by 2.8% in the first quarter. State of Michigan Retirement System now owns 10,930 shares of the transportation company's stock valued at $1,314,000 after buying an additional 300 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Ryder System by 8.9% in the first quarter. Commonwealth Equity Services LLC now owns 13,554 shares of the transportation company's stock valued at $1,629,000 after buying an additional 1,107 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Ryder System by 0.3% in the first quarter. Retirement Systems of Alabama now owns 55,658 shares of the transportation company's stock valued at $6,690,000 after buying an additional 146 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Ryder System by 9.2% in the first quarter. Private Advisor Group LLC now owns 16,430 shares of the transportation company's stock valued at $1,975,000 after buying an additional 1,388 shares in the last quarter. 87.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Ryder System from $148.00 to $144.00 and set a "neutral" rating for the company in a report on Friday, October 25th. StockNews.com cut Ryder System from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. Robert W. Baird lifted their target price on Ryder System from $140.00 to $155.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Finally, Stephens started coverage on Ryder System in a report on Monday, July 8th. They set an "equal weight" rating on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Ryder System currently has an average rating of "Moderate Buy" and an average price target of $140.57.

Ryder System Trading Up 0.8 %

R traded up $1.22 on Friday, hitting $147.50. 209,777 shares of the company were exchanged, compared to its average volume of 276,896. The firm has a fifty day simple moving average of $143.71 and a two-hundred day simple moving average of $132.12. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.74 and a current ratio of 0.74. Ryder System, Inc. has a 12 month low of $97.94 and a 12 month high of $154.76. The stock has a market capitalization of $6.24 billion, a PE ratio of 13.80 and a beta of 1.28.

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

Ryder System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, November 18th. Ryder System's payout ratio is currently 30.31%.

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.