State Street Corp Buys 613,409 Shares of United Parcel Service, Inc. (NYSE:UPS)

State Street Corp raised its stake in United Parcel Service, Inc. (NYSE:UPS) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,597,425 shares of the transportation company’s stock after purchasing an additional 613,409 shares during the quarter. State Street Corp owned approximately 3.46% of United Parcel Service worth $4,035,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. TruNorth Capital Management LLC acquired a new stake in United Parcel Service during the 2nd quarter worth approximately $28,000. True Wealth Design LLC lifted its holdings in United Parcel Service by 397.7% during the 3rd quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock worth $29,000 after purchasing an additional 171 shares during the last quarter. Riverview Trust Co acquired a new stake in United Parcel Service during the 2nd quarter worth approximately $32,000. Centerpoint Advisors LLC lifted 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 purchasing an additional 175 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in United Parcel Service by 168.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 155 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UPS has been the topic of several recent analyst reports. TD Cowen initiated coverage on United Parcel Service in a research note on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price target on the stock. Evercore ISI boosted their price objective on United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Citigroup reduced their price target on United Parcel Service from $163.00 to $158.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price objective on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Argus raised United Parcel Service from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.52.

Insider Buying and Selling

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the completion of the transaction, the insider now owns 45,098 shares of the company’s stock, valued at approximately $6,249,229.86. This represents a 13.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

United Parcel Service Trading Down 0.7 %

Shares of UPS stock opened at $128.76 on Thursday. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82. The firm has a fifty day moving average price of $133.61 and a 200-day moving average price of $133.39. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $109.88 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.13 and a beta of 0.98.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.10 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, November 18th. United Parcel Service’s payout ratio is 98.49%.

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.