Intrust Bank NA reduced its position in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) by 38.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,045 shares of the transportation company’s stock after selling 2,522 shares during the quarter. Intrust Bank NA’s holdings in United Parcel Service were worth $408,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of UPS. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of United Parcel Service during the 2nd quarter worth approximately $26,000. Hemington Wealth Management lifted its holdings in United Parcel Service by 68.9% in the first quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 115 shares during the last quarter. Saudi Central Bank purchased a new position in United Parcel Service in the first quarter worth approximately $32,000. Flaharty Asset Management LLC purchased a new position in United Parcel Service in the first quarter worth approximately $33,000. Finally, RMG Wealth Management LLC acquired a new stake in United Parcel Service during the second quarter worth $34,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.
United Parcel Service Stock Down 1.3%
Shares of UPS opened at $92.95 on Wednesday. The company’s 50-day simple moving average is $88.28 and its 200-day simple moving average is $92.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.32 and a current ratio of 1.30. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $138.67. The stock has a market capitalization of $78.78 billion, a PE ratio of 14.37, a P/E/G ratio of 2.29 and a beta of 1.11.
United Parcel Service Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 17th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.1%. United Parcel Service’s dividend payout ratio is currently 101.39%.
Insider Activity
In related news, Director Christiana Smith Shi bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the acquisition, the director owned 500 shares in the company, valued at approximately $44,085. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on UPS shares. Deutsche Bank Aktiengesellschaft decreased their price target on United Parcel Service from $100.00 to $88.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. Morgan Stanley lowered their target price on shares of United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a research note on Wednesday, July 30th. Evercore ISI dropped their price target on shares of United Parcel Service from $103.00 to $97.00 and set an “in-line” rating for the company in a research report on Wednesday, July 30th. Wells Fargo & Company upped their price objective on shares of United Parcel Service from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Finally, Stifel Nicolaus lowered their price objective on shares of United Parcel Service from $120.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, United Parcel Service has a consensus rating of “Hold” and a consensus target price of $110.00.
Read Our Latest Stock Analysis on UPS
United Parcel Service Company 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.
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