Washington Trust Advisors Inc. Lowers Holdings in United Parcel Service, Inc. (NYSE:UPS)

by · The Markets Daily

Washington Trust Advisors Inc. trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,323 shares of the transportation company’s stock after selling 7,829 shares during the quarter. United Parcel Service accounts for approximately 1.2% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 25th biggest holding. Washington Trust Advisors Inc.’s holdings in United Parcel Service were worth $14,087,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in shares of United Parcel Service during the 2nd quarter worth about $28,000. Riverview Trust Co purchased a new stake in shares of United Parcel Service during the 2nd quarter worth about $32,000. Centerpoint Advisors LLC boosted its stake in shares of United Parcel Service by 291.7% during the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after acquiring an additional 175 shares in the last quarter. Tortoise Investment Management LLC raised its position in shares of United Parcel Service by 168.5% during the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock worth $34,000 after purchasing an additional 155 shares during the last quarter. Finally, PSI Advisors LLC raised its position in shares of United Parcel Service by 408.2% during the 3rd quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

United Parcel Service Stock Performance

Shares of UPS stock opened at $132.49 on Friday. The company’s fifty day simple moving average is $132.06 and its 200-day simple moving average is $135.29. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $163.82. The company has a current ratio of 1.14, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20. The company has a market cap of $113.49 billion, a PE ratio of 20.01, a P/E/G ratio of 2.20 and a beta of 0.99.

United Parcel Service (NYSE:UPS – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The business had revenue of $22.20 billion during 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%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $1.57 EPS. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 7.48 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.92%. United Parcel Service’s payout ratio is currently 98.49%.

Analyst Upgrades and Downgrades

UPS has been the subject of several research analyst reports. UBS Group upped their price target on shares of United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird reduced their price target on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Bank of America upped their price target on shares of United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. The Goldman Sachs Group cut their price objective 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. Finally, Oppenheimer increased their price objective on shares of United Parcel Service from $140.00 to $146.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, United Parcel Service has a consensus rating of “Moderate Buy” and a consensus target price of $151.71.

Check Out Our Latest Stock Analysis on UPS

About United Parcel Service

(Free Report)

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.

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