Econ Financial Services Corp Buys 19,835 Shares of United Parcel Service, Inc. $UPS

Econ Financial Services Corp raised its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 118.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,578 shares of the transportation company’s stock after acquiring an additional 19,835 shares during the quarter. United Parcel Service makes up approximately 1.5% of Econ Financial Services Corp’s holdings, making the stock its 21st largest position. Econ Financial Services Corp’s holdings in United Parcel Service were worth $3,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UPS. Cornerstone Wealth Group LLC boosted its position in shares of United Parcel Service by 3.9% during the second quarter. Cornerstone Wealth Group LLC now owns 2,557 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 97 shares in the last quarter. Bangor Savings Bank raised its holdings in United Parcel Service by 1.9% in the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company’s stock worth $546,000 after purchasing an additional 101 shares in the last quarter. First Dallas Securities Inc. lifted its position in United Parcel Service by 0.9% during the first quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company’s stock valued at $1,256,000 after buying an additional 102 shares during the period. Fortis Capital Advisors LLC boosted its holdings in shares of United Parcel Service by 3.4% during the 1st quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company’s stock valued at $350,000 after buying an additional 104 shares in the last quarter. Finally, Wright Investors Service Inc. grew its position in shares of United Parcel Service by 1.3% in the 2nd quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company’s stock worth $793,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating and set a $96.00 price target (down from $125.00) on shares of United Parcel Service in a research report on Friday, September 19th. Wall Street Zen raised shares of United Parcel Service from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Truist Financial boosted their price target on United Parcel Service from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group upped their price target on United Parcel Service from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Bank of America lowered their price objective on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $110.09.

United Parcel Service Price Performance

Shares of UPS opened at $99.23 on Friday. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $136.99. The company has a market capitalization of $84.19 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 2.36 and a beta of 1.11. The firm has a 50 day moving average of $96.52 and a 200 day moving average of $92.87. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.50.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, October 28th. The transportation company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.31 by $0.43. The business had revenue of $21.42 billion for the quarter, compared to the consensus estimate of $20.94 billion. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The company’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $1.76 EPS. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Monday, November 17th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 6.6%. The ex-dividend date was Monday, November 17th. United Parcel Service’s dividend payout ratio (DPR) is presently 101.39%.

About United Parcel Service

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.