First County Bank CT Cuts Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

First County Bank CT lowered its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 19.3% in the third quarter, Holdings Channel reports. The institutional investor owned 5,166 shares of the transportation company’s stock after selling 1,232 shares during the period. First County Bank CT’s holdings in United Parcel Service were worth $704,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Natixis purchased a new stake in United Parcel Service during the first quarter valued at approximately $121,000. Capital International Inc. CA boosted its position in shares of United Parcel Service by 10.7% in the 1st quarter. Capital International Inc. CA now owns 8,991 shares of the transportation company’s stock worth $1,336,000 after purchasing an additional 866 shares in the last quarter. 1832 Asset Management L.P. grew its stake in United Parcel Service by 48.3% during the 1st quarter. 1832 Asset Management L.P. now owns 153,824 shares of the transportation company’s stock worth $22,863,000 after buying an additional 50,072 shares during the last quarter. LRI Investments LLC acquired a new position in United Parcel Service during the 1st quarter valued at about $97,000. Finally, Steel Grove Capital Advisors LLC boosted its holdings in United Parcel Service by 291.9% in the first quarter. Steel Grove Capital Advisors LLC now owns 11,448 shares of the transportation company’s stock worth $1,702,000 after acquiring an additional 8,527 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

United Parcel Service Trading Down 0.6 %

Shares of UPS opened at $131.35 on Friday. The firm’s fifty day moving average is $132.83 and its two-hundred day moving average is $134.38. The stock has a market cap of $112.09 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 2.19 and a beta of 0.99. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. United Parcel Service, Inc. has a 52-week low of $123.12 and a 52-week high of $163.82.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. United Parcel Service’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 earnings per share. Research analysts forecast that United Parcel Service, Inc. will post 7.48 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.96%. United Parcel Service’s payout ratio is 98.49%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UPS. Barclays reiterated an “underweight” rating and issued a $120.00 target price on shares of United Parcel Service in a research report on Monday, October 21st. The Goldman Sachs Group reduced their target price on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Susquehanna upped their price target on shares of United Parcel Service from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company upped their target price on United Parcel Service from $134.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.52.

United Parcel Service Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.