Corebridge Financial Inc. Sells 3,331 Shares of Ryder System, Inc. (NYSE:R)

Corebridge Financial Inc. lessened its stake in shares of Ryder System, Inc. (NYSE:R) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,847 shares of the transportation company’s stock after selling 3,331 shares during the period. Corebridge Financial Inc. owned about 0.11% of Ryder System worth $7,505,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC raised its position in Ryder System by 376.5% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 9,764 shares of the transportation company’s stock valued at $1,405,000 after purchasing an additional 7,715 shares in the last quarter. James Investment Research Inc. raised its holdings in shares of Ryder System by 32.0% in the fourth quarter. James Investment Research Inc. now owns 12,374 shares of the transportation company’s stock valued at $1,941,000 after acquiring an additional 2,999 shares in the last quarter. Franklin Resources Inc. lifted its stake in Ryder System by 14.3% in the third quarter. Franklin Resources Inc. now owns 136,781 shares of the transportation company’s stock worth $20,724,000 after acquiring an additional 17,074 shares during the period. Assenagon Asset Management S.A. bought a new position in Ryder System during the 4th quarter worth about $12,242,000. Finally, Barclays PLC increased its position in Ryder System by 13.1% during the 3rd quarter. Barclays PLC now owns 28,780 shares of the transportation company’s stock valued at $4,196,000 after purchasing an additional 3,344 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on R. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on Ryder System from $160.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their target price on Ryder System from $176.00 to $174.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Ryder System has a consensus rating of “Moderate Buy” and an average price target of $157.00.

Ryder System Trading Down 2.4 %

NYSE R opened at $140.53 on Friday. The firm has a market cap of $5.87 billion, a PE ratio of 12.67 and a beta of 1.23. Ryder System, Inc. has a 52 week low of $106.88 and a 52 week high of $171.78. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.14. The company has a 50 day moving average price of $155.53 and a 200 day moving average price of $154.94.

Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.45 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.

Ryder System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.31%. Ryder System’s payout ratio is 29.22%.

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.