ELCO Management Co. LLC Sells 530 Shares of United Parcel Service, Inc. (NYSE:UPS)

ELCO Management Co. LLC reduced its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 31.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,161 shares of the transportation company’s stock after selling 530 shares during the period. ELCO Management Co. LLC’s holdings in United Parcel Service were worth $241,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of United Parcel Service by 2.7% in the 1st quarter. BlackRock Inc. now owns 54,027,742 shares of the transportation company’s stock worth $9,184,177,000 after acquiring an additional 1,426,922 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of United Parcel Service by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,094,970 shares of the transportation company’s stock worth $2,735,983,000 after acquiring an additional 714,173 shares in the last quarter. Geode Capital Management LLC raised its position in shares of United Parcel Service by 3.3% in the 1st quarter. Geode Capital Management LLC now owns 10,532,928 shares of the transportation company’s stock worth $1,785,114,000 after acquiring an additional 335,722 shares in the last quarter. Northern Trust Corp raised its position in shares of United Parcel Service by 0.9% in the 1st quarter. Northern Trust Corp now owns 8,997,213 shares of the transportation company’s stock worth $1,529,436,000 after acquiring an additional 83,101 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in United Parcel Service by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 7,175,190 shares of the transportation company’s stock valued at $1,219,712,000 after buying an additional 137,214 shares in the last quarter. 56.98% of the stock is owned by institutional investors and hedge funds.

United Parcel Service stock opened at $189.39 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.94. The firm has a 50-day moving average of $197.07 and a 200-day moving average of $194.77. The firm has a market cap of $164.97 billion, a P/E ratio of 27.02, a P/E/G ratio of 1.49 and a beta of 1.06. United Parcel Service, Inc. has a 1-year low of $154.76 and a 1-year high of $219.59.

United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, July 27th. The transportation company reported $3.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.25. United Parcel Service had a net margin of 6.66% and a return on equity of 155.54%. The company had revenue of $23.42 billion during the quarter, compared to analyst estimates of $23.17 billion. During the same period in the prior year, the business posted $2.13 earnings per share. United Parcel Service’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts forecast that United Parcel Service, Inc. will post 11.16 earnings per share for the current fiscal year.

United Parcel Service announced that its board has approved a share buyback plan on Thursday, August 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 9th. Shareholders of record on Monday, August 23rd were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, August 20th. United Parcel Service’s dividend payout ratio is 49.57%.

UPS has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating on shares of United Parcel Service in a research report on Tuesday, August 17th. JPMorgan Chase & Co. set a $192.23 price target on United Parcel Service in a research note on Tuesday, July 27th. KeyCorp lifted their price target on United Parcel Service from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, May 26th. Oppenheimer lifted their price target on United Parcel Service from $210.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, June 10th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $232.00 price target on shares of United Parcel Service in a research note on Wednesday, June 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $205.75.

About United Parcel Service

United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.

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

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