First County Bank CT Sells 1,271 Shares of United Parcel Service, Inc. $UPS

First County Bank CT cut its holdings in United Parcel Service, Inc. (NYSE:UPS) by 36.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,235 shares of the transportation company’s stock after selling 1,271 shares during the period. First County Bank CT’s holdings in United Parcel Service were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Founders Capital Management LLC raised its position in shares of United Parcel Service by 8.3% in the 2nd quarter. Founders Capital Management LLC now owns 111,405 shares of the transportation company’s stock worth $11,245,000 after acquiring an additional 8,579 shares in the last quarter. Gallacher Capital Management LLC acquired a new stake in shares of United Parcel Service in the 1st quarter valued at about $620,000. Garde Capital Inc. acquired a new stake in shares of United Parcel Service in the 1st quarter valued at about $37,000. Capital CS Group LLC grew its stake in shares of United Parcel Service by 3.6% in the 2nd quarter. Capital CS Group LLC now owns 235,090 shares of the transportation company’s stock valued at $23,730,000 after buying an additional 8,070 shares during the period. Finally, CX Institutional grew its stake in shares of United Parcel Service by 39.9% in the 2nd quarter. CX Institutional now owns 60,165 shares of the transportation company’s stock valued at $6,073,000 after buying an additional 17,152 shares during the period. 60.26% of the stock is owned by institutional investors.

Insider Transactions at United Parcel Service

In other United Parcel Service news, CEO Carol B. Tome bought 11,682 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the purchase, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christiana Smith Shi bought 500 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was acquired at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the purchase, the director directly owned 500 shares in the company, valued at approximately $44,085. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,182 shares of company stock worth $1,477,382 in the last 90 days. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America reduced their target price on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a research note on Friday. BNP Paribas upgraded United Parcel Service to a “hold” rating in a research note on Thursday, July 3rd. Evercore ISI reduced their target price on United Parcel Service from $103.00 to $97.00 and set an “in-line” rating for the company in a research note on Wednesday, July 30th. Barclays reduced their target price on United Parcel Service from $90.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, July 31st. Finally, Galvan Research reduced their target price on United Parcel Service from $126.00 to $124.00 and set a “buy” rating for the company in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $111.38.

United Parcel Service Price Performance

UPS stock opened at $84.46 on Tuesday. United Parcel Service, Inc. has a 52-week low of $82.00 and a 52-week high of $145.01. The business has a 50-day simple moving average of $87.61 and a two-hundred day simple moving average of $96.09. The company has a market capitalization of $71.59 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.08. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The business had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $20.90 billion. During the same quarter in the previous year, the firm earned $1.79 EPS. United Parcel Service’s quarterly revenue was down 2.7% on a year-over-year basis. Research analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Monday, August 18th. United Parcel Service’s payout ratio is presently 97.62%.

United Parcel Service 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.