Patten & Patten Inc. TN Purchases 165 Shares of United Parcel Service, Inc. (NYSE:UPS)

Patten & Patten Inc. TN increased its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 5.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,385 shares of the transportation company’s stock after buying an additional 165 shares during the quarter. Patten & Patten Inc. TN’s holdings in United Parcel Service were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in United Parcel Service during the second quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in United Parcel Service during the second quarter valued at approximately $32,000. Centerpoint Advisors LLC boosted its position in United Parcel Service by 291.7% during the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 175 shares during the last quarter. Tortoise Investment Management LLC boosted its position in 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 purchasing an additional 155 shares during the last quarter. Finally, PSI Advisors LLC boosted its position in United Parcel Service by 408.2% during the third quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Trading Down 0.6 %

Shares of UPS opened at $131.61 on Tuesday. United Parcel Service, Inc. has a 52-week low of $123.12 and a 52-week high of $163.82. The business’s fifty day moving average is $132.06 and its 200-day moving average is $135.12. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.14. The firm has a market cap of $112.73 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.17 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.13. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. During the same quarter last year, the company posted $1.57 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts anticipate that United Parcel Service, Inc. will post 7.48 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Monday, November 18th. United Parcel Service’s dividend payout ratio (DPR) is 98.49%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UPS shares. The Goldman Sachs Group cut their price objective on United Parcel Service from $165.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Evercore ISI raised their price objective on United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. BMO Capital Markets cut 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 report on Wednesday, July 24th. Citigroup started coverage on United Parcel Service in a research report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 price objective for the company. Finally, StockNews.com raised United Parcel Service from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.71.

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.