Drexel Morgan & Co. Invests $14.97 Million in United Parcel Service, Inc. (NYSE:UPS)

Drexel Morgan & Co. bought a new stake in United Parcel Service, Inc. (NYSE:UPS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 109,765 shares of the transportation company’s stock, valued at approximately $14,965,000. United Parcel Service makes up approximately 2.8% of Drexel Morgan & Co.’s investment portfolio, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in shares of United Parcel Service in the 2nd quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in United Parcel Service in the second quarter valued at $32,000. Centerpoint Advisors LLC raised its stake in United Parcel Service by 291.7% during the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after acquiring an additional 175 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of United Parcel Service by 168.5% during the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 155 shares during the period. Finally, PSI Advisors LLC boosted its stake in shares of United Parcel Service by 408.2% in the 3rd quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. 60.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UPS. UBS Group lifted their price target on shares of United Parcel Service from $159.00 to $170.00 and gave the company a “buy” rating in a report on Friday, October 25th. Baird R W upgraded shares of United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 24th. StockNews.com raised United Parcel Service from a “hold” rating to a “buy” rating in a report on Monday. Oppenheimer increased 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. Finally, BMO Capital Markets decreased their price objective on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.71.

United Parcel Service Stock Performance

Shares of United Parcel Service stock opened at $134.05 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.25. The firm has a market cap of $114.82 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The stock’s 50-day moving average is $131.38 and its 200-day moving average is $135.71.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.13. The company 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 business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $1.57 EPS. Equities analysts predict that United Parcel Service, Inc. will post 7.47 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.86%. United Parcel Service’s dividend payout ratio (DPR) is presently 98.49%.

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.