Handelsbanken Fonder AB reduced its position in shares of United Airlines Holdings Inc (NASDAQ:UAL – Free Report) by 39.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,518 shares of the transportation company’s stock after selling 42,827 shares during the quarter. Handelsbanken Fonder AB’s holdings in United Airlines were worth $8,774,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Wealth Managment LLC ID bought a new stake in shares of United Airlines during the fourth quarter valued at approximately $25,000. Western Wealth Management LLC bought a new position in shares of United Airlines in the 1st quarter worth $27,000. Elevation Wealth Partners LLC lifted its holdings in shares of United Airlines by 393.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 212 shares of the transportation company’s stock worth $29,000 after purchasing an additional 169 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in United Airlines in the 3rd quarter valued at $29,000. Finally, Cache Advisors LLC acquired a new stake in United Airlines in the 1st quarter valued at $33,000. Institutional investors own 69.69% of the company’s stock.
United Airlines Trading Up 1.0%
Shares of United Airlines stock opened at $126.35 on Friday. United Airlines Holdings Inc has a 1 year low of $84.64 and a 1 year high of $138.77. The firm has a market cap of $41.01 billion, a PE ratio of 11.82, a P/E/G ratio of 0.93 and a beta of 1.28. The stock has a fifty day moving average price of $122.89 and a 200-day moving average price of $108.01. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.78 and a quick ratio of 0.72.
Insiders Place Their Bets
In other news, CEO J Scott Kirby sold 159,321 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $118.05, for a total transaction of $18,807,844.05. Following the completion of the sale, the chief executive officer owned 797,851 shares in the company, valued at $94,186,310.55. This trade represents a 16.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Brett J. Hart sold 30,108 shares of United Airlines stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $120.72, for a total transaction of $3,634,637.76. Following the completion of the sale, the president directly owned 371,583 shares in the company, valued at $44,857,499.76. This trade represents a 7.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 306,010 shares of company stock valued at $35,949,843. Company insiders own 0.86% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of United Airlines from $130.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Sanford C. Bernstein lifted their price objective on shares of United Airlines from $136.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Citigroup boosted their target price on shares of United Airlines from $132.00 to $171.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. The Goldman Sachs Group upped their target price on shares of United Airlines from $131.00 to $162.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Airlines in a research report on Friday, July 17th. Sixteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.79.
View Our Latest Analysis on UAL
United Airlines Company Profile
United Airlines Holdings, Inc operates United Airlines, a major U.S. full-service passenger carrier providing scheduled air transportation for passengers and cargo. The company offers a comprehensive route network that covers domestic markets across the United States as well as extensive international service to Europe, Asia, Latin America, and the Pacific. United operates a mixed fleet of narrow- and wide-body aircraft on point-to-point and hub-and-spoke routes, and supports corporate and leisure travel through offerings such as premium cabins, basic economy, and ancillary services including baggage, seat selection and in-flight amenities.
In addition to passenger operations, United provides cargo services through United Cargo, handling freight, mail and specialized shipments.
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