Ledyard National Bank Trims Position in United Parcel Service, Inc. (NYSE:UPS)

Ledyard National Bank lessened its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 12.9% during the third quarter, HoldingsChannel reports. The firm owned 2,463 shares of the transportation company’s stock after selling 366 shares during the quarter. Ledyard National Bank’s holdings in United Parcel Service were worth $336,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in UPS. TruNorth Capital Management LLC purchased a new position in shares of United Parcel Service in the 2nd quarter worth $28,000. Riverview Trust Co purchased a new position in shares of United Parcel Service in the 2nd quarter worth $32,000. Centerpoint Advisors LLC raised its position in shares of United Parcel Service by 291.7% in the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after buying an additional 175 shares during the period. Stephens Consulting LLC raised its position in shares of United Parcel Service by 869.6% in the 1st quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock worth $33,000 after buying an additional 200 shares during the period. Finally, Tortoise Investment Management LLC raised its position in shares of United Parcel Service by 168.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock worth $34,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Citigroup began coverage on United Parcel Service in a research report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 target price on the stock. Wells Fargo & Company raised their price objective on United Parcel Service from $134.00 to $142.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group cut their price objective on United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Evercore ISI raised their price objective on United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a research report on Tuesday. Finally, Stifel Nicolaus cut their price objective on United Parcel Service from $170.00 to $151.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.05.

United Parcel Service Price Performance

NYSE:UPS opened at $131.33 on Wednesday. The company has a market capitalization of $112.49 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The stock has a 50-day simple moving average of $130.44 and a 200 day simple moving average of $136.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). The firm had revenue of $21.82 billion during the quarter, compared to analyst estimates of $22.17 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $2.54 earnings per share. Sell-side analysts predict that United Parcel Service, Inc. will post 7.44 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.96%. United Parcel Service’s payout ratio is currently 106.36%.

Insider Buying and Selling at United Parcel Service

In other United Parcel Service news, Director William R. Johnson purchased 5,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were bought at an average price of $128.61 per share, with a total value of $643,050.00. Following the completion of the acquisition, the director now owns 5,160 shares in the company, valued at approximately $663,627.60. This represents a 3,100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

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.