Palouse Capital Management Inc. Purchases 4,955 Shares of United Parcel Service, Inc. (NYSE:UPS)

Palouse Capital Management Inc. increased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 37.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 18,319 shares of the transportation company’s stock after purchasing an additional 4,955 shares during the period. United Parcel Service accounts for approximately 1.7% of Palouse Capital Management Inc.’s holdings, making the stock its 23rd largest position. Palouse Capital Management Inc.’s holdings in United Parcel Service were worth $2,507,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of UPS. Garner Asset Management Corp boosted its stake in shares of United Parcel Service by 28.1% during the 2nd quarter. Garner Asset Management Corp now owns 12,452 shares of the transportation company’s stock worth $1,704,000 after acquiring an additional 2,734 shares during the period. Miramar Capital LLC boosted its position in United Parcel Service by 8.6% during the second quarter. Miramar Capital LLC now owns 94,176 shares of the transportation company’s stock worth $12,888,000 after purchasing an additional 7,449 shares during the period. Paces Ferry Wealth Advisors LLC boosted its position in United Parcel Service by 15.0% during the second quarter. Paces Ferry Wealth Advisors LLC now owns 4,314 shares of the transportation company’s stock worth $590,000 after purchasing an additional 563 shares during the period. SkyOak Wealth LLC increased its holdings in shares of United Parcel Service by 8.1% in the second quarter. SkyOak Wealth LLC now owns 16,986 shares of the transportation company’s stock valued at $2,325,000 after purchasing an additional 1,267 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of United Parcel Service by 38.0% in the second quarter. Blair William & Co. IL now owns 245,087 shares of the transportation company’s stock valued at $33,540,000 after purchasing an additional 67,476 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

Analyst Ratings Changes

UPS has been the topic of a number of research reports. Stephens decreased their price target 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. UBS Group decreased their target price on United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI dropped their price target on United Parcel Service from $157.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, June 24th. Robert W. Baird reduced their price target on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $150.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, United Parcel Service currently has an average rating of “Moderate Buy” and a consensus target price of $149.68.

Insiders Place Their Bets

In related news, Director William R. Johnson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average cost of $128.61 per share, with a total value of $643,050.00. Following the acquisition, the director now owns 5,160 shares of the company’s stock, valued at approximately $663,627.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

United Parcel Service Stock Performance

NYSE UPS opened at $130.69 on Thursday. The firm’s 50 day simple moving average is $130.58 and its 200 day simple moving average is $139.55. The firm has a market capitalization of $111.94 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.90 and a beta of 0.99. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business had revenue of $21.82 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the business posted $2.54 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts expect that United Parcel Service, Inc. will post 7.43 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s dividend payout ratio is presently 94.49%.

United Parcel Service Company 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.