Eastern Bank Sells 63,106 Shares of United Parcel Service, Inc. (NYSE:UPS)

Eastern Bank lessened its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 85.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,444 shares of the transportation company’s stock after selling 63,106 shares during the period. Eastern Bank’s holdings in United Parcel Service were worth $1,424,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of UPS. Elevated Capital Advisors LLC grew its stake in United Parcel Service by 10.8% during the first quarter. Elevated Capital Advisors LLC now owns 3,481 shares of the transportation company’s stock worth $517,000 after buying an additional 338 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in United Parcel Service during the 1st quarter valued at $111,000. St. Johns Investment Management Company LLC increased its holdings in United Parcel Service by 58.8% during the 1st quarter. St. Johns Investment Management Company LLC now owns 4,466 shares of the transportation company’s stock valued at $664,000 after purchasing an additional 1,654 shares in the last quarter. Corundum Group Inc. boosted its stake in United Parcel Service by 73.7% in the first quarter. Corundum Group Inc. now owns 7,309 shares of the transportation company’s stock worth $1,086,000 after purchasing an additional 3,102 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of United Parcel Service by 0.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 45,672 shares of the transportation company’s stock worth $6,788,000 after purchasing an additional 292 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.

Insider Transactions at United Parcel Service

In related news, Director William R. Johnson acquired 5,000 shares of United Parcel Service stock in a transaction dated Thursday, July 25th. The shares were purchased at an average cost of $128.61 per share, with a total value of $643,050.00. Following the completion of the purchase, the director now owns 5,160 shares of the company’s stock, valued at $663,627.60. This represents a 3,100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $131.33 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. The firm has a market cap of $112.49 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99. United Parcel Service, Inc. has a 1-year low of $123.12 and a 1-year high of $163.82. The stock has a fifty day simple moving average of $130.44 and a two-hundred day simple moving average of $136.19.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.20). United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The company had revenue of $21.82 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the business earned $2.54 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts anticipate that United Parcel Service, Inc. will post 7.44 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.96%. United Parcel Service’s dividend payout ratio (DPR) is presently 106.36%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Susquehanna reduced their price objective on United Parcel Service from $160.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Stifel Nicolaus lowered their target price on United Parcel Service from $170.00 to $151.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI raised their price target on United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, Oppenheimer dropped their price objective on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service currently has an average rating of “Moderate Buy” and a consensus price target of $151.05.

About United Parcel Service

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.