Patriot Financial Group Insurance Agency LLC raised its stake in shares of Ryder System, Inc. (NYSE:R) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 963 shares of the transportation company’s stock after acquiring an additional 257 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Ryder System were worth $46,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Skyline Asset Management LP bought a new stake in Ryder System during the 4th quarter valued at $8,359,000. Point72 Hong Kong Ltd bought a new stake in Ryder System during the 3rd quarter valued at $115,000. Nisa Investment Advisors LLC boosted its position in Ryder System by 44.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 21,064 shares of the transportation company’s stock valued at $1,014,000 after acquiring an additional 6,500 shares in the last quarter. Prudential Financial Inc. boosted its position in Ryder System by 28.7% during the 3rd quarter. Prudential Financial Inc. now owns 619,218 shares of the transportation company’s stock valued at $45,247,000 after acquiring an additional 138,066 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Ryder System by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 701,320 shares of the transportation company’s stock valued at $50,396,000 after acquiring an additional 3,253 shares in the last quarter. 91.19% of the stock is currently owned by institutional investors and hedge funds.
In other Ryder System news, EVP John J. Gleason sold 12,795 shares of Ryder System stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $55.14, for a total transaction of $705,516.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.27% of the company’s stock.
The company also recently declared a dividend, which will be paid on Friday, March 15th. Shareholders of record on Tuesday, February 19th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, February 15th. Ryder System’s dividend payout ratio is currently 47.68%.
A number of analysts have recently weighed in on the company. Loop Capital raised Ryder System from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Thursday, October 25th. TheStreet cut Ryder System from a “b-” rating to a “c+” rating in a research report on Friday, November 2nd. Deutsche Bank lowered their price objective on Ryder System from $88.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, December 3rd. ValuEngine cut Ryder System from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Finally, Zacks Investment Research cut Ryder System from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $76.50.
About Ryder System
Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as ancillary maintenance and fleet support services.
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