State of New Jersey Common Pension Fund D Sells 1,835 Shares of Ryder System, Inc. (NYSE:R)

State of New Jersey Common Pension Fund D cut its position in shares of Ryder System, Inc. (NYSE:R) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,569 shares of the transportation company’s stock after selling 1,835 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Ryder System were worth $2,128,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kovitz Investment Group Partners LLC grew its holdings in shares of Ryder System by 376.5% during the third quarter. Kovitz Investment Group Partners LLC now owns 9,764 shares of the transportation company’s stock worth $1,405,000 after buying an additional 7,715 shares in the last quarter. James Investment Research Inc. boosted its position in Ryder System by 32.0% during the fourth quarter. James Investment Research Inc. now owns 12,374 shares of the transportation company’s stock valued at $1,941,000 after purchasing an additional 2,999 shares during the last quarter. Franklin Resources Inc. boosted its position in Ryder System by 14.3% during the third quarter. Franklin Resources Inc. now owns 136,781 shares of the transportation company’s stock valued at $20,724,000 after purchasing an additional 17,074 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Ryder System during the fourth quarter valued at approximately $12,242,000. Finally, Janney Montgomery Scott LLC boosted its position in Ryder System by 83.0% during the third quarter. Janney Montgomery Scott LLC now owns 9,260 shares of the transportation company’s stock valued at $1,350,000 after purchasing an additional 4,200 shares during the last quarter. 87.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

R has been the subject of several recent research reports. StockNews.com raised Ryder System from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. The Goldman Sachs Group raised their price objective on Ryder System from $160.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price objective on Ryder System from $176.00 to $174.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Ryder System currently has an average rating of “Moderate Buy” and an average target price of $157.00.

Ryder System Stock Performance

R opened at $164.85 on Friday. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 14.86 and a beta of 1.29. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.14. Ryder System, Inc. has a 12-month low of $106.88 and a 12-month high of $171.78. The business has a 50 day moving average of $160.53 and a 200-day moving average of $153.13.

Ryder System (NYSE:R) last announced its earnings results on Wednesday, February 12th. The transportation company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that Ryder System, Inc. will post 13.68 earnings per share for the current year.

Ryder System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.81 per share. The ex-dividend date is Tuesday, February 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.97%. Ryder System’s dividend payout ratio (DPR) is currently 29.22%.

Ryder System Company 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.