Sky Investment Group LLC Sells 2,476 Shares of United Parcel Service, Inc. (NYSE:UPS)

Sky Investment Group LLC trimmed its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,774 shares of the transportation company’s stock after selling 2,476 shares during the quarter. Sky Investment Group LLC’s holdings in United Parcel Service were worth $4,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UPS. Principal Financial Group Inc. increased its holdings in United Parcel Service by 4.3% in the third quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock valued at $113,064,000 after purchasing an additional 33,989 shares during the period. Synovus Financial Corp grew its position in shares of United Parcel Service by 8.6% in the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock valued at $11,934,000 after buying an additional 6,941 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of United Parcel Service by 1,061.1% in the third quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock valued at $232,959,000 after buying an additional 1,620,091 shares during the period. HF Advisory Group LLC bought a new position in shares of United Parcel Service during the fourth quarter worth about $1,305,000. Finally, Cohen Investment Advisors LLC lifted its stake in shares of United Parcel Service by 26.4% in the third quarter. Cohen Investment Advisors LLC now owns 18,357 shares of the transportation company’s stock worth $2,503,000 after acquiring an additional 3,835 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Price Performance

United Parcel Service stock opened at $129.77 on Tuesday. The business’s 50 day simple moving average is $128.95 and its 200 day simple moving average is $130.87. United Parcel Service, Inc. has a 12 month low of $121.56 and a 12 month high of $161.35. The company has a market cap of $110.74 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.82 and a beta of 1.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data 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 analyst estimates of $22.10 billion. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 EPS. Sell-side analysts forecast that United Parcel Service, Inc. will post 7.49 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Monday, November 18th. United Parcel Service’s payout ratio is currently 98.49%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UPS. JPMorgan Chase & Co. increased their target price on shares of United Parcel Service from $134.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Susquehanna lifted their target price on shares of United Parcel Service from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. The Goldman Sachs Group dropped their target price on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Barclays reissued an “underweight” rating and issued a $120.00 price objective on shares of United Parcel Service in a research report on Monday, October 21st. Finally, Citigroup cut their target price on United Parcel Service from $163.00 to $158.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, United Parcel Service has an average rating of “Moderate Buy” and a consensus target price of $151.10.

Insider Buying and Selling

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $138.57, for a total transaction of $1,015,025.25. Following the sale, the insider now directly owns 45,098 shares in the company, valued at approximately $6,249,229.86. The trade was a 13.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

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.