Kentucky Retirement Systems Sells 1,869 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Kentucky Retirement Systems lessened its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,908 shares of the transportation company’s stock after selling 1,869 shares during the quarter. Kentucky Retirement Systems’ holdings in United Airlines were worth $1,307,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of UAL. Huntington National Bank raised its position in United Airlines by 10.8% in the 3rd quarter. Huntington National Bank now owns 1,321 shares of the transportation company’s stock valued at $75,000 after buying an additional 129 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of United Airlines by 13.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock worth $94,000 after acquiring an additional 189 shares in the last quarter. Wahed Invest LLC raised its holdings in shares of United Airlines by 13.7% in the first quarter. Wahed Invest LLC now owns 1,591 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 192 shares during the last quarter. Cromwell Holdings LLC lifted its position in shares of United Airlines by 31.4% during the third quarter. Cromwell Holdings LLC now owns 930 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 222 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of United Airlines by 26.6% during the second quarter. Mather Group LLC. now owns 1,174 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 247 shares in the last quarter. Institutional investors own 69.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on UAL shares. Jefferies Financial Group increased their price objective on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Barclays increased their price target on United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $119.00 price objective on shares of United Airlines in a research report on Friday. Sanford C. Bernstein raised their target price on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their price target on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, United Airlines presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.61.

United Airlines Stock Performance

Shares of UAL stock opened at $90.38 on Tuesday. The firm’s 50 day moving average is $67.78 and its 200 day moving average is $54.77. The stock has a market capitalization of $29.72 billion, a P/E ratio of 10.90, a PEG ratio of 1.08 and a beta of 1.39. United Airlines Holdings, Inc. has a 12 month low of $37.02 and a 12 month high of $93.33. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.23. The firm had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter in the prior year, the business posted $3.65 earnings per share. On average, sell-side analysts anticipate that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

United Airlines announced that its board has authorized a stock repurchase plan on Tuesday, October 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.44, for a total value of $1,407,700.00. Following the transaction, the executive vice president now owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the completion of the sale, the executive vice president now owns 30,427 shares in the company, valued at $2,190,744. This trade represents a 32.27 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

United Airlines Company Profile

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.