New England Asset Management Inc. lowered its stake in United Parcel Service, Inc. (NYSE:UPS) by 20.4% during the first quarter, Holdings Channel reports. The firm owned 2,340 shares of the transportation company’s stock after selling 600 shares during the period. New England Asset Management Inc.’s holdings in United Parcel Service were worth $251,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in United Parcel Service by 0.3% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,477 shares of the transportation company’s stock valued at $159,000 after buying an additional 4 shares during the period. Weatherly Asset Management L. P. increased its position in United Parcel Service by 0.4% in the first quarter. Weatherly Asset Management L. P. now owns 4,159 shares of the transportation company’s stock valued at $446,000 after buying an additional 15 shares during the period. Bollard Group LLC increased its position in United Parcel Service by 0.8% in the first quarter. Bollard Group LLC now owns 2,222 shares of the transportation company’s stock valued at $238,000 after buying an additional 17 shares during the period. Guardian Life Insurance Co. of America increased its position in United Parcel Service by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,659 shares of the transportation company’s stock valued at $285,000 after buying an additional 18 shares during the period. Finally, Fort Pitt Capital Group LLC increased its position in United Parcel Service by 1.0% in the first quarter. Fort Pitt Capital Group LLC now owns 2,332 shares of the transportation company’s stock valued at $250,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 53.10% of the company’s stock.

United Parcel Service, Inc. (NYSE:UPS) traded up 0.47% during midday trading on Friday, reaching $111.44. The company had a trading volume of 2,077,867 shares. The stock has a market cap of $96.50 billion, a P/E ratio of 27.40 and a beta of 0.88. United Parcel Service, Inc. has a 12 month low of $102.12 and a 12 month high of $120.44. The firm has a 50-day moving average of $111.07 and a 200-day moving average of $108.07.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.12. United Parcel Service had a return on equity of 417.18% and a net margin of 5.68%. The company had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.49 billion. During the same period in the prior year, the company earned $1.43 EPS. United Parcel Service’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that United Parcel Service, Inc. will post $6.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Monday, August 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Thursday, August 10th. United Parcel Service’s payout ratio is 81.57%.

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Several research firms recently commented on UPS. BidaskClub upgraded United Parcel Service from a “strong sell” rating to a “sell” rating in a research report on Friday. Cowen and Company restated a “hold” rating on shares of United Parcel Service in a research report on Wednesday, July 19th. Seaport Global Securities began coverage on United Parcel Service in a research report on Tuesday, June 6th. They set a “neutral” rating for the company. Citigroup Inc. upgraded United Parcel Service from a “neutral” rating to a “buy” rating and raised their target price for the stock from $115.00 to $128.00 in a research report on Tuesday. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $116.00 target price on shares of United Parcel Service in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $114.79.

In other news, SVP Kathleen M. Gutmann sold 2,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $107.49, for a total value of $214,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James J. Barber sold 3,556 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $110.85, for a total value of $394,182.60. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.

About United Parcel Service

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.

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

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