Fifth Third Bancorp Has $2.65 Million Stake in Ryder System, Inc. (NYSE:R)

Fifth Third Bancorp lowered its position in Ryder System, Inc. (NYSE:R - Free Report) by 28.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,895 shares of the transportation company's stock after selling 6,844 shares during the period. Fifth Third Bancorp's holdings in Ryder System were worth $2,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in R. Jacobs Levy Equity Management Inc. raised its holdings in shares of Ryder System by 212.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 425,614 shares of the transportation company's stock worth $62,055,000 after acquiring an additional 289,388 shares during the period. FMR LLC lifted its stake in Ryder System by 56.2% in the third quarter. FMR LLC now owns 781,519 shares of the transportation company's stock valued at $113,945,000 after buying an additional 281,052 shares during the last quarter. Millennium Management LLC lifted its stake in Ryder System by 1,915.0% in the second quarter. Millennium Management LLC now owns 103,935 shares of the transportation company's stock valued at $12,875,000 after buying an additional 98,777 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Ryder System in the fourth quarter valued at approximately $12,242,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of Ryder System in the third quarter valued at approximately $4,243,000. Hedge funds and other institutional investors own 87.47% of the company's stock.

Insider Activity

In related news, insider Thomas M. Havens sold 4,000 shares of Ryder System stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $157.44, for a total transaction of $629,760.00. Following the completion of the sale, the insider now owns 20,504 shares of the company's stock, valued at approximately $3,228,149.76. This trade represents a 16.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

R has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Ryder System from $160.00 to $183.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on Ryder System from $148.00 to $144.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Finally, StockNews.com lowered Ryder System from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Ryder System has an average rating of "Moderate Buy" and an average target price of $147.43.

Ryder System Stock Performance

Ryder System stock traded down $2.88 during mid-day trading on Friday, hitting $159.53. 1,017,942 shares of the company's stock traded hands, compared to its average volume of 343,962. The firm has a 50 day moving average price of $162.05 and a 200 day moving average price of $149.87. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.17. The company has a market cap of $6.75 billion, a PE ratio of 14.92 and a beta of 1.31. Ryder System, Inc. has a one year low of $106.62 and a one year high of $171.78.

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.