Ryder System, Inc. (NYSE:R) Shares Sold by Teacher Retirement System of Texas

Posted by Defense World Staff on Oct 5th, 2023

Teacher Retirement System of Texas cut its stake in Ryder System, Inc. (NYSE:R – Free Report) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,894 shares of the transportation company’s stock after selling 197 shares during the period. Teacher Retirement System of Texas owned 0.05% of Ryder System worth $2,026,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in shares of Ryder System during the first quarter worth $29,000. Fortis Capital Advisors LLC raised its holdings in shares of Ryder System by 2,716.7% during the first quarter. Fortis Capital Advisors LLC now owns 338 shares of the transportation company’s stock worth $30,000 after purchasing an additional 326 shares during the period. Castleview Partners LLC acquired a new stake in shares of Ryder System during the first quarter worth $63,000. Signaturefd LLC raised its holdings in shares of Ryder System by 49.0% during the first quarter. Signaturefd LLC now owns 724 shares of the transportation company’s stock worth $65,000 after purchasing an additional 238 shares during the period. Finally, Belpointe Asset Management LLC raised its holdings in shares of Ryder System by 175.2% during the first quarter. Belpointe Asset Management LLC now owns 732 shares of the transportation company’s stock worth $65,000 after purchasing an additional 466 shares during the period. 83.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Thomas M. Havens sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $100.32, for a total transaction of $902,880.00. Following the completion of the transaction, the insider now owns 31,008 shares in the company, valued at approximately $3,110,722.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ryder System news, CMO Karen M. Jones sold 900 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $102.13, for a total value of $91,917.00. Following the completion of the transaction, the chief marketing officer now directly owns 5,814 shares in the company, valued at $593,783.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas M. Havens sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $100.32, for a total transaction of $902,880.00. Following the completion of the transaction, the insider now owns 31,008 shares of the company’s stock, valued at $3,110,722.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,634 shares of company stock worth $17,271,137. Corporate insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on R shares. Robert W. Baird raised shares of Ryder System from a “neutral” rating to an “outperform” rating in a report on Monday, July 31st. StockNews.com initiated coverage on shares of Ryder System in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Wells Fargo & Company increased their price objective on shares of Ryder System from $80.00 to $100.00 in a report on Thursday, July 27th. Finally, Wolfe Research cut shares of Ryder System from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.60.

Check Out Our Latest Report on Ryder System

Ryder System Stock Performance

Shares of R opened at $100.79 on Thursday. The firm has a 50-day moving average price of $100.72 and a 200 day moving average price of $89.78. The firm has a market capitalization of $4.59 billion, a PE ratio of 8.73 and a beta of 1.53. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 1.68. Ryder System, Inc. has a 52-week low of $72.48 and a 52-week high of $107.90.

Ryder System (NYSE:R – Get Free Report) last announced its earnings results on Wednesday, July 26th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.64. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $3.05 billion. Ryder System had a net margin of 4.79% and a return on equity of 23.98%. Ryder System’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.43 EPS. On average, sell-side analysts anticipate that Ryder System, Inc. will post 12.74 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 21st were given a dividend of $0.71 per share. This is a positive change from Ryder System’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 18th. This represents a $2.84 annualized dividend and a dividend yield of 2.82%. Ryder System’s dividend payout ratio (DPR) is 24.61%.

Ryder System Company Profile

(Free Report)

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.