The Manufacturers Life Insurance Company Sells 1,791 Shares of Ryder System, Inc. (NYSE:R)

The Manufacturers Life Insurance Company lowered its position in Ryder System, Inc. (NYSE:R) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,108 shares of the transportation company’s stock after selling 1,791 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Ryder System were worth $5,265,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Hancock Whitney Corp raised its holdings in Ryder System by 0.6% in the third quarter. Hancock Whitney Corp now owns 31,975 shares of the transportation company’s stock worth $4,662,000 after purchasing an additional 206 shares in the last quarter. Independent Advisor Alliance purchased a new position in shares of Ryder System in the 3rd quarter worth approximately $1,305,000. Daiwa Securities Group Inc. bought a new position in shares of Ryder System during the 3rd quarter worth approximately $219,000. Algert Global LLC lifted its position in Ryder System by 43.5% during the third quarter. Algert Global LLC now owns 25,547 shares of the transportation company’s stock valued at $3,725,000 after acquiring an additional 7,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ryder System by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 398,837 shares of the transportation company’s stock valued at $58,150,000 after acquiring an additional 1,946 shares in the last quarter. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Ryder System Trading Down 1.0 %

Shares of R opened at $164.62 on Friday. The stock’s fifty day simple moving average is $154.23 and its 200 day simple moving average is $138.85. The firm has a market capitalization of $6.96 billion, a P/E ratio of 15.56 and a beta of 1.30. Ryder System, Inc. has a twelve month low of $105.09 and a twelve month high of $171.78. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.17.

Ryder System (NYSE:R) last issued its earnings results on Thursday, October 24th. The transportation company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.39 by $0.05. Ryder System had a net margin of 3.83% and a return on equity of 16.78%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the company posted $3.58 earnings per share. Ryder System’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Ryder System, Inc. will post 12.01 earnings per share for the current year.

Ryder System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, November 18th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Monday, November 18th. Ryder System’s payout ratio is presently 30.31%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on R shares. JPMorgan Chase & Co. decreased their price objective on shares of Ryder System from $148.00 to $144.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. StockNews.com lowered shares of Ryder System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.57.

Insider Buying and Selling

In other Ryder System news, insider Thomas M. Havens sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $157.44, for a total transaction of $629,760.00. Following the sale, the insider now directly owns 20,504 shares of the company’s stock, valued at approximately $3,228,149.76. This represents a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is owned by insiders.

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.