Franklin Resources Inc. Raises Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

Franklin Resources Inc. grew its position in United Airlines Holdings, Inc. (NASDAQ:UAL) by 214.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,552 shares of the transportation company’s stock after purchasing an additional 138,191 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of United Airlines worth $11,558,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Global Trust Asset Management LLC acquired a new stake in United Airlines in the third quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of United Airlines in the 2nd quarter valued at about $30,000. UMB Bank n.a. raised its position in shares of United Airlines by 59.7% during 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 in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in United Airlines during the third quarter worth approximately $36,000. Finally, Quest Partners LLC boosted its holdings in United Airlines by 3,504.8% in the second quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 736 shares in the last quarter. 69.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other United Airlines news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of United Airlines stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the sale, the executive vice president now owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock valued at $8,158,900 over the last quarter. Company insiders own 0.63% of the company’s stock.

United Airlines Stock Up 1.9 %

UAL stock opened at $97.40 on Friday. The stock has a market capitalization of $32.03 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.12 and a beta of 1.44. The company has a fifty day moving average of $87.67 and a 200-day moving average of $62.06. 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 $105.09.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter in the previous year, the company earned $3.65 EPS. As a group, analysts expect that United Airlines Holdings, Inc. will post 10.27 EPS for the current year.

United Airlines declared that its board has initiated a stock repurchase program on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays boosted their price target on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their target price on United Airlines from $88.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. TD Cowen upped their target price on United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, UBS Group reaffirmed a “buy” rating and set a $139.00 price target on shares of United Airlines in a research report on Tuesday, November 26th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.