United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,072 shares of the transportation company’s stock after selling 250 shares during the period. Summit Asset Management LLC’s holdings in United Parcel Service were worth $513,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC increased its holdings in shares of United Parcel Service by 397.7% in the 3rd quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 171 shares during the last quarter. IFS Advisors LLC increased its holdings in shares of United Parcel Service by 232.3% in the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 151 shares during the last quarter. Princeton Global Asset Management LLC increased its holdings in shares of United Parcel Service by 720.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 246 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 216 shares during the last quarter. FSA Wealth Management LLC bought a new stake in shares of United Parcel Service in the 3rd quarter valued at approximately $36,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of United Parcel Service in the 4th quarter valued at approximately $38,000. 60.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $138.57, for a total transaction of $1,015,025.25. Following the completion of the sale, the insider now directly owns 45,098 shares of the company’s stock, valued at $6,249,229.86. This represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on United Parcel Service from $150.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 31st. BMO Capital Markets upgraded United Parcel Service from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $155.00 to $150.00 in a report on Tuesday, December 10th. Robert W. Baird downgraded United Parcel Service from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $160.00 to $130.00 in a research note on Friday, January 31st. Bank of America lowered their price objective on United Parcel Service from $150.00 to $133.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, The Goldman Sachs Group lowered their price objective on United Parcel Service from $166.00 to $147.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.73.

United Parcel Service Trading Down 0.2 %

Shares of UPS stock opened at $116.35 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. The firm has a market capitalization of $99.38 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.55 and a beta of 0.98. The stock has a fifty day moving average of $123.21 and a two-hundred day moving average of $128.36. United Parcel Service, Inc. has a 1 year low of $109.40 and a 1 year high of $158.95.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same period last year, the business earned $2.47 earnings per share. As a group, research analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th will be issued a $1.64 dividend. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date is Tuesday, February 18th. This represents a $6.56 annualized dividend and a dividend yield of 5.64%. United Parcel Service’s dividend payout ratio is 97.04%.

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.