Ryder System, Inc. (NYSE:R) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in shares of Ryder System, Inc. (NYSE:R) by 18.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,219 shares of the transportation company’s stock after purchasing an additional 338 shares during the period. PNC Financial Services Group Inc.’s holdings in Ryder System were worth $319,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of R. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ryder System in the first quarter valued at $26,000. TCTC Holdings LLC grew its holdings in Ryder System by 116.5% in the 1st quarter. TCTC Holdings LLC now owns 223 shares of the transportation company’s stock valued at $32,000 after buying an additional 120 shares during the period. Curat Global LLC acquired a new position in shares of Ryder System during the 1st quarter valued at about $55,000. Kapitalo Investimentos Ltda purchased a new position in shares of Ryder System during the 4th quarter worth about $59,000. Finally, Group One Trading LLC lifted its holdings in shares of Ryder System by 553.0% during the 4th quarter. Group One Trading LLC now owns 653 shares of the transportation company’s stock worth $102,000 after acquiring an additional 553 shares during the period. 87.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ryder System news, Director E Follin Smith sold 5,523 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $177.66, for a total value of $981,216.18. Following the completion of the transaction, the director owned 33,779 shares in the company, valued at $6,001,177.14. This represents a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert E. Sanchez sold 22,063 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $182.49, for a total transaction of $4,026,276.87. Following the completion of the sale, the chief executive officer directly owned 62,887 shares of the company’s stock, valued at $11,476,248.63. This trade represents a 25.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,082 shares of company stock valued at $9,340,250. Corporate insiders own 5.20% of the company’s stock.

Ryder System Price Performance

Ryder System stock opened at $179.94 on Friday. The firm has a fifty day moving average of $168.16 and a 200-day moving average of $155.55. Ryder System, Inc. has a 52-week low of $125.54 and a 52-week high of $184.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.27. The firm has a market capitalization of $7.34 billion, a P/E ratio of 15.30 and a beta of 1.00.

Ryder System (NYSE:R) last announced its quarterly earnings results on Thursday, July 24th. The transportation company reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.21. Ryder System had a net margin of 3.99% and a return on equity of 17.83%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same period in the prior year, the company earned $3.00 EPS. The firm’s revenue was up .2% on a year-over-year basis. As a group, analysts predict that Ryder System, Inc. will post 13.68 EPS for the current year.

Ryder System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 18th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, August 18th. This is an increase from Ryder System’s previous quarterly dividend of $0.81. Ryder System’s dividend payout ratio (DPR) is 27.55%.

Wall Street Analyst Weigh In

R has been the subject of a number of recent analyst reports. Baird R W upgraded shares of Ryder System to a “strong-buy” rating in a report on Tuesday, July 1st. Stephens lifted their price target on shares of Ryder System from $150.00 to $190.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Morgan Stanley upped their price objective on Ryder System from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Wolfe Research raised Ryder System from a “peer perform” rating to an “outperform” rating and set a $159.00 target price on the stock in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on Ryder System from $165.00 to $173.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ryder System currently has an average rating of “Moderate Buy” and an average price target of $186.50.

About Ryder System

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.