Greatmark Investment Partners Inc. Grows Position in United Parcel Service, Inc. (UPS)

Greatmark Investment Partners Inc. increased its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,531 shares of the transportation company’s stock after buying an additional 2,959 shares during the quarter. United Parcel Service comprises about 2.3% of Greatmark Investment Partners Inc.’s holdings, making the stock its 14th largest position. Greatmark Investment Partners Inc.’s holdings in United Parcel Service were worth $7,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UPS. DnB Asset Management AS purchased a new stake in United Parcel Service in the 2nd quarter valued at approximately $9,210,000. Clinton Group Inc. purchased a new stake in United Parcel Service in the 2nd quarter valued at approximately $1,319,000. IFM Investors Pty Ltd boosted its holdings in United Parcel Service by 44.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 30,975 shares of the transportation company’s stock valued at $3,290,000 after purchasing an additional 9,493 shares in the last quarter. Lynch & Associates IN boosted its holdings in United Parcel Service by 76.9% in the 2nd quarter. Lynch & Associates IN now owns 89,009 shares of the transportation company’s stock valued at $9,455,000 after purchasing an additional 38,706 shares in the last quarter. Finally, Farmers Trust Co. purchased a new stake in United Parcel Service in the 2nd quarter valued at approximately $203,000. 53.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:UPS opened at $105.99 on Friday. The company has a market cap of $91.19 billion, a PE ratio of 17.64, a PEG ratio of 1.58 and a beta of 1.14. The company has a debt-to-equity ratio of 6.43, a quick ratio of 1.21 and a current ratio of 1.14. United Parcel Service, Inc. has a 12 month low of $101.45 and a 12 month high of $135.53.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Wednesday, October 24th. The transportation company reported $1.82 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.82. United Parcel Service had a return on equity of 307.54% and a net margin of 7.68%. The business had revenue of $17.44 billion for the quarter, compared to analyst estimates of $17.48 billion. During the same quarter in the previous year, the company earned $1.45 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that United Parcel Service, Inc. will post 7.23 EPS for the current fiscal year.

In related news, insider George Willis sold 4,312 shares of United Parcel Service stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $121.34, for a total transaction of $523,218.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James J. Barber sold 2,500 shares of United Parcel Service stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $121.94, for a total value of $304,850.00. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

UPS has been the topic of a number of analyst reports. Goldman Sachs Group set a $150.00 price objective on United Parcel Service and gave the company a “buy” rating in a report on Monday, September 10th. Bank of America lowered United Parcel Service from a “buy” rating to a “neutral” rating in a research note on Thursday, October 25th. BMO Capital Markets raised United Parcel Service from a “market perform” rating to an “outperform” rating and set a $128.00 price target on the stock in a research note on Monday, October 1st. Morgan Stanley boosted their price target on United Parcel Service from $90.00 to $92.00 and gave the stock an “underweight” rating in a research note on Thursday, July 26th. Finally, Berenberg Bank started coverage on United Parcel Service in a research note on Friday, September 21st. They set a “hold” rating and a $125.00 price target on the stock. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $125.52.

United Parcel Service Profile

United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.

Further Reading: Dividend

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

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