Northwest Bancshares Inc. Reduces Position in United Parcel Service, Inc. (NYSE:UPS)

Northwest Bancshares Inc. lessened its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,290 shares of the transportation company's stock after selling 3,843 shares during the period. Northwest Bancshares Inc.'s holdings in United Parcel Service were worth $4,948,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in United Parcel Service during the 2nd quarter worth about $28,000. Riverview Trust Co acquired a new stake in United Parcel Service during the 2nd quarter valued at approximately $32,000. Centerpoint Advisors LLC grew its holdings in United Parcel Service by 291.7% during the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company's stock worth $32,000 after acquiring an additional 175 shares during the period. Princeton Global Asset Management LLC grew its stake in United Parcel Service by 720.0% during the third quarter. Princeton Global Asset Management LLC now owns 246 shares of the transportation company's stock worth $34,000 after purchasing an additional 216 shares during the period. Finally, Tortoise Investment Management LLC grew its holdings in United Parcel Service by 168.5% in the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company's stock worth $34,000 after purchasing an additional 155 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Trading Down 1.4 %

UPS stock traded down $1.86 during trading on Wednesday, hitting $131.34. The company had a trading volume of 1,464,381 shares, compared to its average volume of 4,154,856. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $112.08 billion, a P/E ratio of 20.12, a PEG ratio of 2.20 and a beta of 0.99. The company has a 50 day simple moving average of $132.70 and a 200-day simple moving average of $134.41. United Parcel Service, Inc. has a 52-week low of $123.12 and a 52-week high of $163.82.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.13. The business had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The company's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $1.57 EPS. As a group, research analysts forecast that United Parcel Service, Inc. will post 7.48 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Monday, November 18th. United Parcel Service's payout ratio is 98.49%.

Analyst Ratings Changes

A number of research analysts have weighed in on UPS shares. UBS Group raised their price objective on shares of United Parcel Service from $159.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, October 25th. The Goldman Sachs Group decreased their target price on shares of United Parcel Service from $165.00 to $162.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on shares of United Parcel Service from $140.00 to $139.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Stephens dropped their price objective on shares of United Parcel Service from $168.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 24th. Finally, Citigroup dropped their target price on shares of United Parcel Service from $163.00 to $158.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $151.52.

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.