Honeywell International Inc. Reduces Position in United Parcel Service, Inc. (UPS)
Honeywell International Inc. cut its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 39.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,600 shares of the transportation company’s stock after selling 160,000 shares during the quarter. United Parcel Service comprises 1.0% of Honeywell International Inc.’s investment portfolio, making the stock its 25th biggest holding. Honeywell International Inc.’s holdings in United Parcel Service were worth $26,829,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Wealth Management LLC bought a new stake in shares of United Parcel Service during the 2nd quarter valued at $102,000. Parkside Financial Bank & Trust lifted its position in United Parcel Service by 17.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,087 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 160 shares during the period. First PREMIER Bank lifted its position in United Parcel Service by 5.0% during the 2nd quarter. First PREMIER Bank now owns 1,047 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 50 shares during the period. Ullmann Financial Group Inc. purchased a new position in United Parcel Service during the 1st quarter valued at about $126,000. Finally, Winslow Evans & Crocker Inc. lifted its position in United Parcel Service by 261.3% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,243 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 899 shares during the period. Institutional investors own 52.86% of the company’s stock.
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Several equities analysts have recently issued reports on the stock. Cowen and Company reiterated a “hold” rating on shares of United Parcel Service in a report on Tuesday, September 26th. BidaskClub raised United Parcel Service from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Citigroup Inc. raised United Parcel Service from a “neutral” rating to a “buy” rating and raised their price objective for the company from $115.00 to $128.00 in a research report on Tuesday, August 8th. Robert W. Baird reiterated a “hold” rating and set a $118.00 price objective on shares of United Parcel Service in a research note on Sunday. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $123.00 target price (up from $116.00) on shares of United Parcel Service in a report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $115.27.
United Parcel Service, Inc. (NYSE UPS) opened at 120.79 on Tuesday. United Parcel Service, Inc. has a 52-week low of $102.12 and a 52-week high of $120.80. The company has a market capitalization of $104.60 billion, a P/E ratio of 29.70 and a beta of 0.90. The firm has a 50-day moving average of $115.91 and a 200 day moving average of $110.05.
United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, July 27th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.12. The firm had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.49 billion. United Parcel Service had a net margin of 5.68% and a return on equity of 417.18%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. Equities analysts predict that United Parcel Service, Inc. will post $6.01 earnings per share for the current fiscal year.
In other news, insider James J. Barber sold 3,556 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $110.85, for a total value of $394,182.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alan Gershenhorn sold 17,699 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $114.10, for a total value of $2,019,455.90. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by company insiders.
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.
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