Huntington National Bank Trims Stake in United Parcel Service, Inc. (NYSE:UPS)

Huntington National Bank cut its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 12.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 46,946 shares of the transportation company’s stock after selling 6,873 shares during the quarter. Huntington National Bank’s holdings in United Parcel Service were worth $6,401,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. TruNorth Capital Management LLC purchased a new position in shares of United Parcel Service during the 2nd quarter valued at about $28,000. Riverview Trust Co bought a new stake in United Parcel Service during the 2nd quarter worth approximately $32,000. Centerpoint Advisors LLC lifted its holdings in United Parcel Service by 291.7% during the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 175 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of United Parcel Service by 168.5% in the second 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 period. Finally, PSI Advisors LLC increased its stake in shares of United Parcel Service by 408.2% in the third 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. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Trading Down 0.8 %

Shares of UPS stock opened at $132.64 on Friday. The company has a market cap of $113.62 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.19 and a beta of 0.99. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82. The stock’s 50 day simple moving average is $132.27 and its two-hundred day simple moving average is $134.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14.

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

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. 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 dividend payout ratio is presently 98.49%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UPS shares. UBS Group lifted their target price on shares of United Parcel Service from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Bank of America upped their price objective on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Citigroup decreased their target price on United Parcel Service from $163.00 to $158.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Barclays restated an “underweight” rating and issued a $120.00 price target on shares of United Parcel Service in a research note on Monday, October 21st. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.52.

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.