United Airlines Holdings, Inc. (NASDAQ:UAL) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 0.7% in the third quarter, HoldingsChannel reports. The fund owned 23,571,002 shares of the transportation company’s stock after selling 158,340 shares during the quarter. United Airlines makes up about 1.0% of Primecap Management Co. CA’s portfolio, making the stock its 29th largest position. Primecap Management Co. CA owned 0.07% of United Airlines worth $1,344,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Global Trust Asset Management LLC acquired a new stake in United Airlines during the 3rd quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new position in United Airlines in the 2nd quarter worth approximately $30,000. Crewe Advisors LLC purchased a new position in United Airlines in the 1st quarter worth approximately $32,000. UMB Bank n.a. boosted its holdings in United Airlines by 59.7% in the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock worth $33,000 after acquiring an additional 255 shares during the period. Finally, Armstrong Advisory Group Inc. purchased a new position in United Airlines in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

Analysts Set New Price Targets

UAL has been the subject of a number of analyst reports. Morgan Stanley upped their price target on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group upped their price target on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Susquehanna increased their target price on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Bank of America increased their target price on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays increased their target price on United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.28.

United Airlines Price Performance

Shares of UAL opened at $94.63 on Thursday. The firm has a market capitalization of $31.12 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.39. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. United Airlines Holdings, Inc. has a one year low of $37.02 and a one year high of $95.19. The stock’s fifty day moving average is $69.62 and its 200-day moving average is $55.35.

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

United Airlines announced that its board has initiated a share repurchase plan on Tuesday, October 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. This trade represents a 32.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 40,012 shares in the company, valued at $3,218,565.28. The trade was a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

About United Airlines

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.