United Parcel Service, Inc. (NYSE:UPS) Holdings Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 10.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,211,655 shares of the transportation company’s stock after selling 147,916 shares during the quarter. PNC Financial Services Group Inc.’s holdings in United Parcel Service were worth $165,197,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new stake in United Parcel Service in the 2nd quarter worth about $28,000. Riverview Trust Co acquired a new stake in United Parcel Service in the 2nd quarter valued at approximately $32,000. Centerpoint Advisors LLC grew its holdings in United Parcel Service by 291.7% in the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after buying an additional 175 shares during the last quarter. Tortoise Investment Management LLC grew its holdings in United Parcel Service by 168.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock valued at $34,000 after buying an additional 155 shares during the last quarter. Finally, PSI Advisors LLC grew its holdings 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 in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen began coverage on United Parcel Service in a research report on Thursday, August 22nd. They set a “hold” rating and a $144.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird reduced their price objective on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price target on United Parcel Service from $134.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Bank of America upped their price target on United Parcel Service from $132.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.52.

United Parcel Service Stock Down 1.4 %

NYSE:UPS opened at $133.20 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $113.67 billion, a PE ratio of 20.12, a PEG ratio of 2.20 and a beta of 0.99. United Parcel Service, Inc. has a 52-week low of $123.12 and a 52-week high of $163.82. The stock has a 50-day simple moving average of $132.70 and a 200 day simple moving average of $134.41.

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

United Parcel Service Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 4.89%. United Parcel Service’s dividend payout ratio (DPR) is presently 98.49%.

About United Parcel Service

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.