Essex Financial Services Inc. Makes New $246,000 Investment in United Airlines Holdings, Inc. (NASDAQ:UAL)

Essex Financial Services Inc. purchased a new stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,530 shares of the transportation company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mill Creek Capital Advisors LLC bought a new position in shares of United Airlines in the fourth quarter worth $258,000. Savant Capital LLC increased its stake in United Airlines by 16.0% in the 4th quarter. Savant Capital LLC now owns 11,719 shares of the transportation company’s stock worth $1,138,000 after acquiring an additional 1,614 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of United Airlines in the 4th quarter valued at about $636,000. Empowered Funds LLC boosted its position in shares of United Airlines by 1,627.9% during the 4th quarter. Empowered Funds LLC now owns 85,288 shares of the transportation company’s stock valued at $8,281,000 after acquiring an additional 80,352 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in shares of United Airlines during the fourth quarter worth about $484,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

United Airlines Stock Performance

NASDAQ:UAL opened at $100.89 on Friday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.74 and a current ratio of 0.81. United Airlines Holdings, Inc. has a fifty-two week low of $37.02 and a fifty-two week high of $116.00. The firm has a market cap of $33.18 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 0.71 and a beta of 1.43. The business has a 50 day moving average price of $102.29 and a 200-day moving average price of $76.78.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results on Tuesday, January 21st. The transportation company reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.96 by $0.30. United Airlines had a net margin of 5.52% and a return on equity of 32.26%. The business had revenue of $14.70 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter in the prior year, the company posted $2.00 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that United Airlines Holdings, Inc. will post 13.09 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the sale, the executive vice president now owns 63,599 shares of the company’s stock, valued at $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on UAL shares. Bank of America raised their target price on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on shares of United Airlines from $108.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Jefferies Financial Group upped their target price on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Melius Research upgraded United Airlines to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Barclays upped their price objective on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, United Airlines presently has an average rating of “Buy” and an average target price of $113.88.

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.