OLD National Bancorp IN Sells 1,598 Shares of United Parcel Service, Inc. $UPS

OLD National Bancorp IN lessened its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 21.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,829 shares of the transportation company’s stock after selling 1,598 shares during the quarter. OLD National Bancorp IN’s holdings in United Parcel Service were worth $588,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Highland Capital Management LLC boosted its stake in shares of United Parcel Service by 108.4% during the 2nd quarter. Highland Capital Management LLC now owns 42,181 shares of the transportation company’s stock worth $4,258,000 after acquiring an additional 21,940 shares in the last quarter. Noble Family Wealth LLC lifted its position in shares of United Parcel Service by 2.8% during the 2nd quarter. Noble Family Wealth LLC now owns 7,230 shares of the transportation company’s stock worth $730,000 after purchasing an additional 200 shares during the last quarter. O Keefe Stevens Advisory Inc. lifted its position in shares of United Parcel Service by 30.8% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 9,361 shares of the transportation company’s stock worth $945,000 after purchasing an additional 2,207 shares during the last quarter. Sava Infond d.o.o. lifted its position in shares of United Parcel Service by 146.7% during the 2nd quarter. Sava Infond d.o.o. now owns 4,120 shares of the transportation company’s stock worth $416,000 after purchasing an additional 2,450 shares during the last quarter. Finally, NTV Asset Management LLC lifted its position in shares of United Parcel Service by 4.3% during the 2nd quarter. NTV Asset Management LLC now owns 8,604 shares of the transportation company’s stock worth $868,000 after purchasing an additional 353 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on United Parcel Service from $100.00 to $88.00 and set a “hold” rating for the company in a research report on Thursday, October 2nd. JPMorgan Chase & Co. cut their price objective on United Parcel Service from $110.00 to $107.00 and set a “neutral” rating for the company in a research report on Tuesday, July 8th. Stifel Nicolaus cut their price objective on United Parcel Service from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. Vertical Research reissued a “hold” rating and set a $103.00 price objective on shares of United Parcel Service in a research report on Wednesday, July 30th. Finally, Truist Financial cut their price objective on United Parcel Service from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $110.16.

Insider Buying and Selling

In other United Parcel Service news, Director Christiana Smith Shi purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the transaction, the director directly owned 500 shares in the company, valued at approximately $44,085. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Johnson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the transaction, the director owned 10,160 shares in the company, valued at $878,840. The trade was a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,182 shares of company stock worth $1,477,382 in the last three months. Insiders own 0.13% of the company’s stock.

United Parcel Service Trading Down 0.7%

Shares of UPS opened at $86.01 on Wednesday. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $145.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. The stock has a 50 day simple moving average of $85.81 and a 200-day simple moving average of $94.91. The stock has a market cap of $72.90 billion, a PE ratio of 12.80, a PEG ratio of 1.60 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The company had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. During the same period in the previous year, the company posted $1.79 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were given a dividend of $1.64 per share. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.6%. United Parcel Service’s dividend payout ratio is 97.62%.

United Parcel Service Company 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.