Summit Global Investments Makes New $208,000 Investment in Ryder System, Inc. (NYSE:R)

Summit Global Investments acquired a new stake in shares of Ryder System, Inc. (NYSE:R) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,806 shares of the transportation company’s stock, valued at approximately $208,000.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of Ryder System by 1,051.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,551,559 shares of the transportation company’s stock worth $272,889,000 after buying an additional 2,329,880 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in Ryder System in the third quarter worth about $25,233,000. LSV Asset Management grew its holdings in Ryder System by 13.5% during the 3rd quarter. LSV Asset Management now owns 1,570,462 shares of the transportation company’s stock worth $167,961,000 after acquiring an additional 187,174 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Ryder System by 12.3% in the 3rd quarter. AQR Capital Management LLC now owns 845,253 shares of the transportation company’s stock worth $90,400,000 after purchasing an additional 92,760 shares during the period. Finally, Cambridge Financial Group Inc. bought a new stake in Ryder System during the third quarter valued at about $8,186,000. Institutional investors own 87.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group lifted their target price on shares of Ryder System from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Vertical Research cut shares of Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Wednesday, January 10th. JPMorgan Chase & Co. upped their target price on Ryder System from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Stephens lifted their price target on Ryder System from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $126.83.

Ryder System Stock Performance

R opened at $125.68 on Tuesday. The firm has a market capitalization of $5.51 billion, a PE ratio of 16.36 and a beta of 1.38. The firm’s 50-day moving average price is $116.54 and its 200 day moving average price is $111.86. Ryder System, Inc. has a twelve month low of $77.60 and a twelve month high of $127.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.22.

Ryder System (NYSE:R) last announced its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.43. Ryder System had a net margin of 2.95% and a return on equity of 18.38%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company posted $2.81 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that Ryder System, Inc. will post 11.98 EPS for the current fiscal year.

Ryder System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, May 20th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, May 17th. Ryder System’s dividend payout ratio (DPR) is 36.98%.

Insider Activity

In other news, Director E Follin Smith sold 3,671 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $119.16, for a total value of $437,436.36. Following the completion of the transaction, the director now owns 38,413 shares of the company’s stock, valued at $4,577,293.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Ryder System news, insider Thomas M. Havens sold 8,000 shares of Ryder System stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $119.40, for a total transaction of $955,200.00. Following the transaction, the insider now owns 24,401 shares of the company’s stock, valued at $2,913,479.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director E Follin Smith sold 3,671 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $119.16, for a total transaction of $437,436.36. Following the sale, the director now owns 38,413 shares of the company’s stock, valued at approximately $4,577,293.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,408 shares of company stock valued at $2,270,631. 5.10% of the stock is currently owned by corporate insiders.

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.