Palouse Capital Management Inc. Increases Stake in United Parcel Service, Inc. (NYSE:UPS)

Palouse Capital Management Inc. raised its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 103.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,096 shares of the transportation company's stock after buying an additional 17,297 shares during the period. United Parcel Service comprises about 2.6% of Palouse Capital Management Inc.'s holdings, making the stock its 11th largest position. Palouse Capital Management Inc.'s holdings in United Parcel Service were worth $3,750,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in UPS. IMG Wealth Management Inc. purchased a new stake in shares of United Parcel Service in the fourth quarter valued at about $25,000. Generali Investments Management Co LLC purchased a new stake in United Parcel Service during the fourth quarter worth about $26,000. Pinney & Scofield Inc. purchased a new stake in United Parcel Service during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new stake in United Parcel Service during the fourth quarter worth about $28,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in United Parcel Service during the fourth quarter worth about $30,000. 60.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of United Parcel Service from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on shares of United Parcel Service from $120.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Truist Financial cut their target price on shares of United Parcel Service from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Oppenheimer cut their target price on shares of United Parcel Service from $126.00 to $114.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Loop Capital cut their price objective on shares of United Parcel Service from $115.00 to $105.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, United Parcel Service presently has an average rating of "Hold" and a consensus price target of $120.26.

United Parcel Service Trading Down 1.0%

NYSE:UPS traded down $1.03 during midday trading on Friday, reaching $99.89. 4,237,986 shares of the stock traded hands, compared to its average volume of 5,181,579. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. United Parcel Service, Inc. has a 12 month low of $90.55 and a 12 month high of $148.15. The stock has a market capitalization of $84.58 billion, a P/E ratio of 14.78, a PEG ratio of 1.55 and a beta of 1.22. The company has a fifty day moving average of $97.49 and a 200 day moving average of $112.68.

United Parcel Service (NYSE:UPS - Get Free Report) last released its earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.11. The firm had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $21.25 billion. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. The company's revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 EPS. On average, research analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date was Monday, May 19th. United Parcel Service's dividend payout ratio is presently 95.63%.

United Parcel Service 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.