Platform Technology Partners Raises Holdings in United Parcel Service, Inc. (NYSE:UPS)

Platform Technology Partners grew its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 16.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,247 shares of the transportation company’s stock after buying an additional 321 shares during the period. Platform Technology Partners’ holdings in United Parcel Service were worth $306,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of UPS. International Assets Investment Management LLC increased its holdings in shares of United Parcel Service by 15,779.6% in the third quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock valued at $1,994,853,000 after purchasing an additional 14,539,321 shares during the last quarter. Marshall Wace LLP increased its stake in shares of United Parcel Service by 284.8% in the 2nd quarter. Marshall Wace LLP now owns 2,569,831 shares of the transportation company’s stock worth $351,681,000 after acquiring an additional 1,901,914 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of United Parcel Service by 1,061.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock worth $232,959,000 after acquiring an additional 1,620,091 shares during the period. Spirepoint Private Client LLC acquired a new position in shares of United Parcel Service during the 1st quarter valued at about $160,787,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of United Parcel Service by 5,136.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,079,964 shares of the transportation company’s stock valued at $147,242,000 after purchasing an additional 1,059,339 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Down 1.1 %

Shares of NYSE:UPS opened at $130.17 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. United Parcel Service, Inc. has a fifty-two week low of $123.12 and a fifty-two week high of $163.82. The stock has a market cap of $111.50 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 2.16 and a beta of 0.99. The firm’s 50 day moving average price is $132.12 and its 200 day moving average price is $135.01.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.13. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 EPS. As a group, equities research analysts predict that United Parcel Service, Inc. will post 7.48 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.01%. United Parcel Service’s payout ratio is currently 98.49%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Stephens decreased their price objective on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Oppenheimer upped their price target on United Parcel Service from $140.00 to $146.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Argus raised United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.52.

United Parcel Service Company Profile

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.