United Parcel Service, Inc. (UPS) Position Decreased by First Merchants Corp

First Merchants Corp cut its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,921 shares of the transportation company’s stock after selling 25 shares during the quarter. First Merchants Corp’s holdings in United Parcel Service were worth $766,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. IBM Retirement Fund increased its holdings in shares of United Parcel Service by 72.5% during the 2nd quarter. IBM Retirement Fund now owns 16,882 shares of the transportation company’s stock worth $2,087,000 after acquiring an additional 7,094 shares during the last quarter. NGAM Advisors L.P. increased its holdings in shares of United Parcel Service by 3.7% during the 2nd quarter. NGAM Advisors L.P. now owns 538,479 shares of the transportation company’s stock worth $59,550,000 after acquiring an additional 19,373 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of United Parcel Service by 4.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 23,646 shares of the transportation company’s stock worth $2,615,000 after acquiring an additional 997 shares during the last quarter. Eastern Bank increased its holdings in shares of United Parcel Service by 3.5% during the 2nd quarter. Eastern Bank now owns 28,266 shares of the transportation company’s stock worth $3,126,000 after acquiring an additional 961 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of United Parcel Service by 18.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 18,606 shares of the transportation company’s stock worth $2,058,000 after acquiring an additional 2,905 shares during the last quarter. 52.93% of the stock is currently owned by institutional investors and hedge funds.

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A number of research analysts recently weighed in on UPS shares. TheStreet raised United Parcel Service from a “c” rating to a “b” rating in a report on Thursday, July 27th. Citigroup Inc. raised United Parcel Service from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $115.00 to $128.00 in a report on Tuesday, August 8th. Cowen and Company reissued a “hold” rating on shares of United Parcel Service in a report on Wednesday, July 19th. Zacks Investment Research lowered United Parcel Service from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BidaskClub raised United Parcel Service from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $114.80.

In other news, insider James J. Barber sold 3,556 shares of United Parcel Service stock in a transaction on Monday, July 31st. The stock was sold at an average price of $110.85, for a total value of $394,182.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Gershenhorn sold 17,699 shares of United Parcel Service stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $114.10, for a total value of $2,019,455.90. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

Shares of United Parcel Service, Inc. (NYSE:UPS) opened at 115.05 on Monday. The company has a market capitalization of $99.63 billion, a P/E ratio of 28.29 and a beta of 0.88. United Parcel Service, Inc. has a 52-week low of $102.12 and a 52-week high of $120.44. The stock’s 50 day moving average price is $112.83 and its 200-day moving average price is $108.67.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.12. The company had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.49 billion. United Parcel Service had a return on equity of 417.18% and a net margin of 5.68%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 earnings per share. On average, equities analysts expect that United Parcel Service, Inc. will post $6.01 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Monday, August 14th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Thursday, August 10th. United Parcel Service’s dividend payout ratio (DPR) is presently 81.57%.

About United Parcel Service

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.

Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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