United Parcel Service, Inc. (NYSE:UPS) Shares Acquired by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lifted its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,104 shares of the transportation company's stock after acquiring an additional 11,305 shares during the quarter. Peapack Gladstone Financial Corp's holdings in United Parcel Service were worth $11,330,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of UPS. Synovus Financial Corp increased its holdings in United Parcel Service by 8.6% in the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company's stock worth $11,934,000 after acquiring an additional 6,941 shares in the last quarter. Tidal Investments LLC grew its position in shares of United Parcel Service by 26.8% in the third quarter. Tidal Investments LLC now owns 34,255 shares of the transportation company's stock valued at $4,670,000 after purchasing an additional 7,240 shares during the period. Optimist Retirement Group LLC increased its stake in shares of United Parcel Service by 28.3% during the third quarter. Optimist Retirement Group LLC now owns 3,079 shares of the transportation company's stock worth $420,000 after purchasing an additional 680 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of United Parcel Service by 31.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 33,777 shares of the transportation company's stock worth $4,605,000 after purchasing an additional 8,097 shares during the last quarter. Finally, Arvest Bank Trust Division purchased a new position in United Parcel Service in the 3rd quarter valued at about $2,086,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at United Parcel Service

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 7,325 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the transaction, the insider now directly owns 45,098 shares in the company, valued at $6,249,229.86. This represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UPS. JPMorgan Chase & Co. lowered their price target on United Parcel Service from $140.00 to $139.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. StockNews.com raised shares of United Parcel Service from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Bank of America raised their price target on shares of United Parcel Service from $132.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Barclays restated an "underweight" rating and set a $120.00 price target on shares of United Parcel Service in a research report on Monday, October 21st. Finally, UBS Group increased their price objective on shares of United Parcel Service from $159.00 to $170.00 and gave the company a "buy" rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $151.29.

United Parcel Service Trading Down 0.2 %

NYSE UPS traded down $0.22 during trading on Friday, hitting $128.76. The stock had a trading volume of 4,284,756 shares, compared to its average volume of 4,187,872. The company has a market capitalization of $109.88 billion, a PE ratio of 19.45, a PEG ratio of 2.12 and a beta of 0.98. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $163.82. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. The firm has a 50 day moving average price of $132.94 and a 200 day moving average price of $132.78.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.13. The business had revenue of $22.20 billion for 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 company's revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 earnings per share. As a group, equities research analysts forecast that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 5.06%. United Parcel Service's dividend payout ratio (DPR) is currently 98.49%.

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.