Public Employees Retirement System of Ohio Decreases Stock Holdings in United Airlines Holdings, Inc. (NASDAQ:UAL)

Public Employees Retirement System of Ohio lowered its holdings in United Airlines Holdings, Inc. (NASDAQ:UAL) by 27.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,900 shares of the transportation company’s stock after selling 46,892 shares during the period. Public Employees Retirement System of Ohio’s holdings in United Airlines were worth $6,899,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Castle Hook Partners LP raised its holdings in shares of United Airlines by 176.1% in the 3rd quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock worth $242,227,000 after purchasing an additional 2,707,442 shares during the period. Point72 Asset Management L.P. raised its stake in shares of United Airlines by 489.2% in the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after buying an additional 1,905,664 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of United Airlines by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after buying an additional 1,263,604 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of United Airlines during the 3rd quarter worth $63,486,000. Finally, Sanders Capital LLC increased its holdings in United Airlines by 12.4% in the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after acquiring an additional 1,040,589 shares during the last quarter. Institutional investors own 69.69% of the company’s stock.

Insider Activity at United Airlines

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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Linda P. Jojo sold 60,000 shares of United Airlines stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the completion of the transaction, the executive vice president now owns 63,599 shares in the company, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock valued at $8,158,900 over the last 90 days. 0.63% of the stock is owned by insiders.

United Airlines Stock Performance

Shares of UAL opened at $95.11 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The stock has a 50-day moving average price of $84.18 and a 200-day moving average price of $60.49. The company has a market cap of $31.28 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.17 and a beta of 1.44. United Airlines Holdings, Inc. has a 12-month low of $37.02 and a 12-month high of $105.09.

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

United Airlines declared that its board has approved a stock buyback program on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 7.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

UAL has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of United Airlines from $88.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group restated a “buy” rating and set a $139.00 price target on shares of United Airlines in a research note on Tuesday, November 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $119.00 price objective on shares of United Airlines in a research note on Friday, November 15th. Melius Research upgraded United Airlines to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Susquehanna raised their price target on United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $98.95.

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.