Bank of New York Mellon Corp Raises Stake in Ryder System, Inc. $R

Bank of New York Mellon Corp boosted its position in shares of Ryder System, Inc. (NYSE:R) by 15.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 555,151 shares of the transportation company’s stock after acquiring an additional 74,933 shares during the period. Bank of New York Mellon Corp owned about 1.37% of Ryder System worth $104,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. acquired a new stake in Ryder System during the third quarter worth approximately $3,495,000. Valeo Financial Advisors LLC boosted its holdings in shares of Ryder System by 51,455.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,868,534 shares of the transportation company’s stock valued at $456,097,000 after buying an additional 2,862,970 shares in the last quarter. Genus Capital Management Inc. purchased a new position in shares of Ryder System in the 2nd quarter valued at $1,463,000. Verdence Capital Advisors LLC purchased a new position in shares of Ryder System in the 3rd quarter valued at $1,135,000. Finally, Bahl & Gaynor Inc. raised its stake in Ryder System by 149.0% during the 2nd quarter. Bahl & Gaynor Inc. now owns 145,700 shares of the transportation company’s stock worth $23,166,000 after acquiring an additional 87,197 shares in the last quarter. 87.47% of the stock is currently owned by institutional investors and hedge funds.

Ryder System Price Performance

Shares of NYSE:R opened at $191.09 on Monday. The company has a 50-day moving average price of $188.55 and a 200 day moving average price of $182.49. Ryder System, Inc. has a 52 week low of $125.54 and a 52 week high of $200.53. The company has a market cap of $7.72 billion, a P/E ratio of 16.14 and a beta of 0.96. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.35.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on R shares. Citigroup upped their price objective on shares of Ryder System from $196.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, December 19th. JPMorgan Chase & Co. boosted their target price on Ryder System from $194.00 to $197.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Morgan Stanley upped their target price on Ryder System from $190.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of Ryder System in a research report on Thursday, January 8th. Finally, Wells Fargo & Company initiated coverage on Ryder System in a research note on Friday, December 5th. They issued an “overweight” rating and a $210.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.67.

Ryder System Profile

Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company’s Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.

Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.