Corebridge Financial Inc. Reduces Position in Ryder System, Inc. (NYSE:R)

Corebridge Financial Inc. decreased its position in Ryder System, Inc. (NYSE:R) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,847 shares of the transportation company’s stock after selling 3,331 shares during the period. Corebridge Financial Inc.’s holdings in Ryder System were worth $7,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC increased its holdings in shares of Ryder System by 376.5% in the third 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 during the period. James Investment Research Inc. increased its holdings in Ryder System by 32.0% in the 4th quarter. James Investment Research Inc. now owns 12,374 shares of the transportation company’s stock worth $1,941,000 after buying an additional 2,999 shares during the period. Franklin Resources Inc. raised its position in Ryder System by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 136,781 shares of the transportation company’s stock worth $20,724,000 after buying an additional 17,074 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Ryder System in the 4th quarter valued at $12,242,000. Finally, Barclays PLC increased its stake in shares of Ryder System by 13.1% in the third quarter. Barclays PLC now owns 28,780 shares of the transportation company’s stock worth $4,196,000 after acquiring an additional 3,344 shares during the period. Institutional investors and hedge funds own 87.47% of the company’s stock.

Ryder System Trading Down 2.4 %

Shares of Ryder System stock opened at $140.53 on Friday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.75 and a current ratio of 0.75. Ryder System, Inc. has a fifty-two week low of $106.88 and a fifty-two week high of $171.78. The firm has a 50-day simple moving average of $155.53 and a two-hundred day simple moving average of $154.94. The company has a market cap of $5.87 billion, a P/E ratio of 12.67 and a beta of 1.23.

Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.39 by $0.06. Ryder System had a net margin of 3.87% and a return on equity of 17.23%. As a group, equities analysts predict that Ryder System, Inc. will post 13.68 earnings per share for the current fiscal year.

Ryder System Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on R shares. The Goldman Sachs Group boosted their target price on shares of Ryder System from $160.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com cut Ryder System from a “buy” rating to a “hold” rating in a report on Wednesday. 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 report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.00.

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.