Hennion & Walsh Asset Management Inc. Sells 2,843 Shares of United Parcel Service, Inc. (NYSE:UPS)

Hennion & Walsh Asset Management Inc. cut its holdings in United Parcel Service, Inc. (NYSE:UPS) by 27.0% during the third quarter, HoldingsChannel reports. The firm owned 7,696 shares of the transportation company’s stock after selling 2,843 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in United Parcel Service were worth $1,049,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in United Parcel Service by 15,779.6% during the third quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock valued at $1,994,853,000 after purchasing an additional 14,539,321 shares in the last quarter. Marshall Wace LLP boosted its holdings in United Parcel Service by 284.8% during the second quarter. Marshall Wace LLP now owns 2,569,831 shares of the transportation company’s stock valued at $351,681,000 after purchasing an additional 1,901,914 shares in the last quarter. Spirepoint Private Client LLC acquired a new stake in United Parcel Service during the first quarter valued at approximately $160,787,000. Interval Partners LP acquired a new stake in United Parcel Service during the first quarter valued at approximately $90,099,000. Finally, Maj Invest Holding A S acquired a new position in shares of United Parcel Service in the 2nd quarter worth approximately $63,604,000. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Performance

Shares of United Parcel Service stock opened at $137.43 on Monday. The firm has a fifty day moving average of $130.89 and a two-hundred day moving average of $135.90. The stock has a market capitalization of $117.72 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.93 and a beta of 0.99. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $163.82. 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 issued its earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.65 by $0.11. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 EPS. As a group, equities research analysts predict that United Parcel Service, Inc. will post 7.44 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s dividend payout ratio is currently 106.36%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UPS. Stephens reduced their target price on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their target price on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a report on Friday. Citigroup began coverage on United Parcel Service in a report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 target price on the stock. Baird R W raised United Parcel Service to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, Bank of America boosted their target price on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.43.

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.