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

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in United Airlines Holdings, Inc. (NASDAQ:UAL) by 8.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 9,736 shares of the transportation company’s stock after selling 869 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in United Airlines were worth $556,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Capital International Investors lifted its stake in shares of United Airlines by 2.4% during the first quarter. Capital International Investors now owns 18,502,761 shares of the transportation company’s stock valued at $885,912,000 after acquiring an additional 429,501 shares during the period. Dimensional Fund Advisors LP lifted its position in 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 purchasing an additional 1,263,604 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of United Airlines by 489.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after purchasing an additional 1,905,664 shares during the last quarter. Interval Partners LP acquired a new stake in shares of United Airlines during the 1st quarter worth approximately $103,354,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of United Airlines by 177.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock worth $75,570,000 after buying an additional 847,348 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at United Airlines

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

Analyst Ratings Changes

A number of brokerages have issued reports on UAL. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $119.00 price objective on shares of United Airlines in a research note on Friday. Susquehanna raised their price target on United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Bank of America upped their price objective on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Cowen increased their target price on United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein boosted their target price on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.61.

United Airlines Stock Performance

Shares of UAL stock opened at $90.38 on Tuesday. 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 52 week low of $37.02 and a 52 week high of $93.33. The company’s 50 day moving average price is $67.78 and its two-hundred day moving average price is $54.77. The company has a market capitalization of $29.72 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data 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 company had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same quarter in the prior year, the firm earned $3.65 earnings per share. On average, analysts expect that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines announced that its board has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

United Airlines 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.