Ingalls & Snyder LLC reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,230 shares of the transportation company’s stock after selling 600 shares during the period. Ingalls & Snyder LLC’s holdings in United Parcel Service were worth $578,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in United Parcel Service by 0.3% during the 1st quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,477 shares of the transportation company’s stock worth $159,000 after purchasing an additional 4 shares during the last quarter. Weatherly Asset Management L. P. grew its position in United Parcel Service by 0.4% during the 1st quarter. Weatherly Asset Management L. P. now owns 4,159 shares of the transportation company’s stock worth $446,000 after purchasing an additional 15 shares during the last quarter. Founders Capital Management grew its position in United Parcel Service by 0.3% during the 2nd quarter. Founders Capital Management now owns 5,367 shares of the transportation company’s stock worth $594,000 after purchasing an additional 15 shares during the last quarter. Bollard Group LLC grew its position in United Parcel Service by 0.8% during the 2nd quarter. Bollard Group LLC now owns 2,239 shares of the transportation company’s stock worth $248,000 after purchasing an additional 17 shares during the last quarter. Finally, Guardian Life Insurance Co. of America grew its position in United Parcel Service by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,659 shares of the transportation company’s stock worth $285,000 after purchasing an additional 18 shares during the last quarter. 52.86% of the stock is currently owned by institutional investors.

Shares of United Parcel Service, Inc. (NYSE UPS) opened at 117.67 on Monday. United Parcel Service, Inc. has a 52 week low of $102.12 and a 52 week high of $120.44. The firm has a market cap of $101.90 billion, a PE ratio of 28.93 and a beta of 0.88. The company has a 50 day moving average of $114.04 and a 200 day moving average of $109.26.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.12. The firm had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.49 billion. United Parcel Service had a net margin of 5.68% and a return on equity of 417.18%. United Parcel Service’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. On average, equities research analysts anticipate that United Parcel Service, Inc. will post $6.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Monday, August 14th were given a $0.83 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $3.32 dividend on an annualized basis and a yield of 2.82%. United Parcel Service’s dividend payout ratio is presently 81.57%.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Daily Political and is the property of of Daily Political. If you are reading this news story on another website, it was illegally stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/09/25/ingalls-snyder-llc-lowers-holdings-in-united-parcel-service-inc-ups.html.

In related news, EVP Alan Gershenhorn sold 17,699 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $114.10, for a total value of $2,019,455.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James J. Barber sold 3,556 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $110.85, for a total transaction of $394,182.60. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

Several brokerages have issued reports on UPS. Zacks Investment Research downgraded shares of United Parcel Service from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub raised shares of United Parcel Service from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Credit Suisse Group reissued a “neutral” rating and set a $108.00 price objective on shares of United Parcel Service in a research report on Tuesday, August 15th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $123.00 price objective (up from $116.00) on shares of United Parcel Service in a research report on Wednesday, September 20th. Finally, Citigroup Inc. raised shares of United Parcel Service from a “neutral” rating to a “buy” rating and lifted their target price for the company from $115.00 to $128.00 in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. United Parcel Service has an average rating of “Hold” and an average target price of $115.27.

About United Parcel Service

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.

Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

Receive News & Ratings for United Parcel Service Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Parcel Service Inc. and related companies with MarketBeat.com's FREE daily email newsletter.