Sanford J. Hodes, the Senior Vice President, Chief Procurement Officer, and Corporate Development Officer of Ryder System Inc (NYSE:R), has recently engaged in significant stock transactions, according to the latest filings with the Securities and Exchange Commission. On May 6, 2024, Hodes sold 3,360 shares of Ryder System common stock, resulting in a total transaction value exceeding $420,000.
The sold shares were priced at an average of $125.59 each, with individual sale prices ranging from $125.43 to $126.42. This information is detailed in the footnotes of the filing, which also offer to provide full details of the number of shares sold at each price upon request by the SEC staff, the issuer, or any security holder of the issuer.
On the same day, Hodes also acquired 3,360 shares of Ryder System common stock at a price of $93.51 per share, amounting to a total transaction value of approximately $314,193. This acquisition was not a purchase on the open market but was related to the exercise of stock options that had vested in three equal installments over the years 2016, 2017, and 2018, as revealed by the footnotes.
Following these transactions, Hodes' direct holdings in Ryder System common stock have adjusted to a total of 24,119 shares. It is also noted in the footnotes that Hodes' total includes 130 shares acquired under the company's dividend reinvestment plan.
The disclosure of these transactions provides investors with a glimpse into the trading activities of one of Ryder System's key executives. The company, with its corporate headquarters in Miami, Florida, operates within the auto rental and leasing industry, without drivers, under the SIC code 7510.
Investors and the broader market often monitor such insider transactions as indicators of executive confidence in the company's performance and outlook. The filings provide transparency and ensure that corporate insiders are compliant with regulations governing the trading of securities.
InvestingPro Insights
Amidst the recent insider trading activity at Ryder System Inc (NYSE:R), investors seeking to understand the company's financial health and market performance may find valuable insights from InvestingPro metrics and tips. As of the last twelve months leading up to Q1 2024, Ryder System boasts a market capitalization of approximately $5.5 billion, reflecting the size and scale of the company within the auto rental and leasing industry.
An impressive streak of dividend growth highlights the company's commitment to shareholder returns, with dividends increased for 19 consecutive years. This consistent performance, as noted in one of the InvestingPro Tips, may signal to investors a stable financial position and management's confidence in the company's ability to generate sufficient cash flow.
Moreover, the company's shares have experienced a large price uptick over the last six months, as indicated by a 25.63% total return. This surge aligns with another InvestingPro Tip that the company's stock is trading near its 52-week high, currently at 98.57% of this peak value. The share price, at the previous close, was $125.68, closely mirroring the price at which Sanford J. Hodes engaged in his recent stock transactions.
For investors intrigued by these insights, additional InvestingPro Tips related to Ryder System can be accessed at https://www.investing.com/pro/R. There are more tips available that could further inform investment decisions, and users can take advantage of a special offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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