Global Trust Asset Management LLC Takes Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Global Trust Asset Management LLC purchased a new stake in United Airlines Holdings, Inc. (NASDAQ:UAL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 500 shares of the transportation company’s stock, valued at approximately $29,000.

A number of other hedge funds have also made changes to their positions in the company. Capital International Investors increased its position in shares of United Airlines by 2.4% in the first quarter. Capital International Investors now owns 18,502,761 shares of the transportation company’s stock valued at $885,912,000 after buying an additional 429,501 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of United Airlines by 29.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after acquiring an additional 1,263,604 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of United Airlines by 489.2% during 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 acquiring an additional 1,905,664 shares during the last quarter. Interval Partners LP acquired a new stake in shares of United Airlines during the first quarter valued at $103,354,000. Finally, Assenagon Asset Management S.A. boosted 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 valued at $75,570,000 after acquiring an additional 847,348 shares during the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on UAL. Morgan Stanley increased their price objective on United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. TD Cowen increased their price objective on United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein increased their price objective on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Bank of America increased their price objective on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their price target on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, United Airlines has an average rating of “Moderate Buy” and a consensus price target of $78.94.

United Airlines Stock Performance

NASDAQ UAL opened at $74.64 on Friday. The firm has a market capitalization of $24.54 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.89 and a beta of 1.44. United Airlines Holdings, Inc. has a 1-year low of $33.68 and a 1-year high of $76.08. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. The business’s 50-day simple moving average is $54.02 and its 200-day simple moving average is $50.52.

United Airlines (NASDAQ:UAL) last released its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The business 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 period in the previous year, the company posted $3.65 EPS. Equities analysts predict that United Airlines Holdings, Inc. will post 10.18 EPS for the current year.

United Airlines announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at United Airlines

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.

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.