Ryder System, Inc. $R Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Ryder System, Inc. (NYSE:R) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,560 shares of the transportation company’s stock after selling 3,134 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Ryder System worth $17,083,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its position in shares of Ryder System by 76.6% in the third quarter. Thrivent Financial for Lutherans now owns 66,941 shares of the transportation company’s stock worth $12,628,000 after acquiring an additional 29,029 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in Ryder System in the 3rd quarter worth approximately $3,495,000. Genus Capital Management Inc. purchased a new position in Ryder System during the 2nd quarter worth approximately $1,463,000. New York State Common Retirement Fund raised its stake in Ryder System by 9.7% during the 3rd quarter. New York State Common Retirement Fund now owns 31,763 shares of the transportation company’s stock valued at $5,992,000 after purchasing an additional 2,800 shares during the period. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Ryder System in the third quarter valued at $1,135,000. Institutional investors own 87.47% of the company’s stock.

Ryder System Trading Down 0.5%

NYSE:R opened at $216.31 on Tuesday. The company has a market capitalization of $8.73 billion, a P/E ratio of 18.27 and a beta of 0.96. The stock’s 50 day moving average price is $193.24 and its 200 day moving average price is $184.15. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.02 and a current ratio of 1.02. Ryder System, Inc. has a 52 week low of $125.54 and a 52 week high of $218.36.

Ryder System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.91 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.7%. Ryder System’s dividend payout ratio (DPR) is currently 30.74%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Ryder System from $190.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, December 8th. JPMorgan Chase & Co. lifted their target price on Ryder System from $194.00 to $197.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Ryder System in a research report on Thursday, January 22nd. Wolfe Research restated a “peer perform” rating on shares of Ryder System in a report on Thursday, January 8th. Finally, Citigroup upped their price objective on shares of Ryder System from $196.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.67.

About Ryder System

Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company’s Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.

Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.