Patten & Patten Inc. TN Cuts Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Patten & Patten Inc. TN decreased its position in shares of United Parcel Service, Inc. (NYSE:UPSFree Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,949 shares of the transportation company’s stock after selling 119 shares during the quarter. Patten & Patten Inc. TN’s holdings in United Parcel Service were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of United Parcel Service by 1.3% during the second quarter. State Street Corp now owns 28,354,781 shares of the transportation company’s stock valued at $5,082,594,000 after buying an additional 357,974 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in United Parcel Service by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 15,889,570 shares of the transportation company’s stock worth $2,456,055,000 after purchasing an additional 628,944 shares during the last quarter. Wellington Management Group LLP boosted its holdings in United Parcel Service by 31.7% in the third quarter. Wellington Management Group LLP now owns 9,677,202 shares of the transportation company’s stock worth $1,508,385,000 after purchasing an additional 2,331,875 shares during the last quarter. Northern Trust Corp boosted its holdings in United Parcel Service by 0.6% in the first quarter. Northern Trust Corp now owns 9,273,417 shares of the transportation company’s stock worth $1,988,777,000 after purchasing an additional 54,401 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in United Parcel Service by 33.7% in the fourth quarter. Morgan Stanley now owns 7,730,090 shares of the transportation company’s stock worth $1,343,799,000 after purchasing an additional 1,949,775 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Up 2.1 %

Shares of UPS stock opened at $152.27 on Thursday. The company has a market capitalization of $129.83 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.72 and a beta of 1.05. United Parcel Service, Inc. has a one year low of $133.68 and a one year high of $197.80. The company’s fifty day moving average price is $149.80 and its 200-day moving average price is $151.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.10.

United Parcel Service (NYSE:UPSGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The transportation company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.46 by $0.01. The firm had revenue of $24.92 billion for the quarter, compared to the consensus estimate of $25.40 billion. United Parcel Service had a net margin of 7.37% and a return on equity of 39.46%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period last year, the firm earned $3.62 EPS. Sell-side analysts expect that United Parcel Service, Inc. will post 8.27 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Tuesday, February 20th were issued a $1.63 dividend. This is an increase from United Parcel Service’s previous quarterly dividend of $1.62. This represents a $6.52 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Friday, February 16th. United Parcel Service’s payout ratio is currently 83.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Daiwa Capital Markets cut shares of United Parcel Service from an “outperform” rating to a “neutral” rating and set a $155.00 target price on the stock. in a report on Tuesday, December 26th. Argus cut shares of United Parcel Service from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Robert W. Baird upgraded shares of United Parcel Service from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $170.00 in a report on Friday, February 16th. Susquehanna restated a “neutral” rating and issued a $150.00 target price on shares of United Parcel Service in a report on Wednesday, March 27th. Finally, TheStreet upgraded shares of United Parcel Service from a “c” rating to a “b-” rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, United Parcel Service has a consensus rating of “Hold” and a consensus target price of $165.87.

Read Our Latest Report on UPS

Insider Buying and Selling at United Parcel Service

In related news, Director Eva C. Boratto purchased 1,400 shares of United Parcel Service stock in a transaction on Friday, February 2nd. The shares were bought at an average cost of $142.30 per share, for a total transaction of $199,220.00. Following the acquisition, the director now owns 1,400 shares in the company, valued at approximately $199,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

About United Parcel Service

(Free Report)

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.

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

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