Summit Investment Advisors Inc. Reduces Holdings in Ryder System, Inc. (NYSE:R)

Summit Investment Advisors Inc. reduced its stake in shares of Ryder System, Inc. (NYSE:R) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,471 shares of the transportation company’s stock after selling 409 shares during the period. Summit Investment Advisors Inc.’s holdings in Ryder System were worth $1,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Treasurer of the State of North Carolina lifted its position in shares of Ryder System by 1.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 39,825 shares of the transportation company’s stock valued at $6,247,000 after acquiring an additional 516 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Ryder System by 11.8% in the 4th quarter. Bessemer Group Inc. now owns 2,478 shares of the transportation company’s stock valued at $388,000 after purchasing an additional 262 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Ryder System during the 4th quarter worth about $6,868,000. Bank of Nova Scotia purchased a new stake in shares of Ryder System during the fourth quarter worth about $1,172,000. Finally, Invesco Ltd. raised its position in shares of Ryder System by 22.2% in the fourth quarter. Invesco Ltd. now owns 456,968 shares of the transportation company’s stock valued at $71,680,000 after buying an additional 82,893 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on R shares. JPMorgan Chase & Co. lowered their target price on shares of Ryder System from $176.00 to $174.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. StockNews.com downgraded Ryder System from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ryder System currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Ryder System Trading Down 1.7 %

Shares of R opened at $138.26 on Thursday. The stock’s fifty day simple moving average is $149.04 and its 200 day simple moving average is $154.55. Ryder System, Inc. has a twelve month low of $106.88 and a twelve month high of $171.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $5.77 billion, a P/E ratio of 12.47 and a beta of 1.10.

Ryder System (NYSE:R) last released its quarterly earnings data on Wednesday, February 12th. The transportation company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.39 by $0.06. Ryder System had a return on equity of 17.23% and a net margin of 3.87%. On average, equities research analysts forecast that Ryder System, Inc. will post 13.68 earnings per share for the current year.

Ryder System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, February 18th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Tuesday, February 18th. Ryder System’s payout ratio is currently 29.22%.

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.