Econ Financial Services Corp Purchases New Shares in United Parcel Service, Inc. (NYSE:UPS)

Econ Financial Services Corp acquired a new position in United Parcel Service, Inc. (NYSE:UPS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,528 shares of the transportation company’s stock, valued at approximately $2,084,000. United Parcel Service makes up about 1.2% of Econ Financial Services Corp’s investment portfolio, making the stock its 27th biggest position.

Several other large investors also recently made changes to their positions in UPS. State Street Corp boosted its position in United Parcel Service by 2.1% in the 3rd quarter. State Street Corp now owns 29,597,425 shares of the transportation company’s stock valued at $4,035,313,000 after buying an additional 613,409 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of United Parcel Service by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,927,607 shares of the transportation company’s stock valued at $2,989,609,000 after acquiring an additional 1,320,921 shares during the period. Geode Capital Management LLC boosted its holdings in United Parcel Service by 2.5% in the third quarter. Geode Capital Management LLC now owns 15,289,624 shares of the transportation company’s stock valued at $2,080,170,000 after acquiring an additional 373,202 shares during the last quarter. International Assets Investment Management LLC increased its position in 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 worth $1,994,853,000 after purchasing an additional 14,539,321 shares during the period. Finally, FMR LLC raised its holdings in United Parcel Service by 3.7% during the 3rd quarter. FMR LLC now owns 10,627,550 shares of the transportation company’s stock worth $1,448,960,000 after purchasing an additional 380,229 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

Insider Buying and Selling at United Parcel Service

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of United Parcel Service stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the completion of the transaction, the insider now owns 45,098 shares of the company’s stock, valued at $6,249,229.86. This trade represents a 13.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on UPS. Wolfe Research upgraded shares of United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 price target for the company in a research report on Wednesday, January 8th. Argus raised United Parcel Service from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird lowered United Parcel Service from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $160.00 to $130.00 in a research report on Friday, January 31st. StockNews.com upgraded United Parcel Service from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group reduced their target price on United Parcel Service from $166.00 to $147.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.73.

United Parcel Service Stock Performance

Shares of UPS stock opened at $111.75 on Wednesday. United Parcel Service, Inc. has a 12 month low of $109.40 and a 12 month high of $158.95. The company’s fifty day simple moving average is $127.32 and its 200-day simple moving average is $129.69. The firm has a market cap of $95.37 billion, a PE ratio of 16.53, a P/E/G ratio of 1.63 and a beta of 0.98. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same quarter in the previous year, the firm posted $2.47 EPS. Equities research analysts expect that United Parcel Service, Inc. will post 8.61 EPS for the current fiscal year.

About United Parcel Service

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.