Here’s Why United Parcel Service Inc. (UPS) is a Top Dividend Stock to Invest in, According to Jim Simons’ Renaissance Technologies

United Parcel Service Inc. (NYSE:UPS) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies, with a 5.93% yield. On July 6, Morgan Stanley reiterated an Underweight rating on United Parcel Service Inc. (NYSE:UPS) and raised the price target to $76 from $75.

Here’s Why United Parcel Service Inc. (UPS) is a Top Dividend Stock to Invest in, According to Jim Simons' Renaissance Technologies

The research firm raised its price target amid expectations of a constructive freight-cycle outlook. Morgan Stanley expects a record up cycle driven by continued supply chain constraints and a recovering demand backdrop. Earlier on June 23, Goldman Sachs raised its earnings estimates and price targets for the truckload transportation sector, buoyed by improving freight fundamentals and a stronger-than-expected recovery.

Meanwhile, United Parcel Service has detailed AI-powered solutions that combine the expertise of about 460,000 employees. The company is increasingly investing in AI solutions to improve end-to-end visibility, making its global logistics network faster, more predictable, and more resilient. It’s also leveraging the technology to improve customer support.

United Parcel Service Inc. (NYSE:UPS) is the world’s largest package delivery and supply chain management company. Operating in over 200 countries, the company handles global logistics, freight transportation, and e-commerce fulfillment, delivering an average of 20.8 million packages daily.

READ NEXT: 10 Best Stocks to Buy According to David Greenspan’s Slate Path Capital and 10 AI Stocks on Wall Street’s Radar: Datadog, Microsoft, and More.

Disclosure: None. Follow Insider Monkey on Google News.