PNC Financial Services Group Inc. Sells 2,614 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

PNC Financial Services Group Inc. lowered its holdings in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,682 shares of the transportation company’s stock after selling 2,614 shares during the quarter. PNC Financial Services Group Inc.’s holdings in United Airlines were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of UAL. Global Trust Asset Management LLC bought a new stake in United Airlines during the third quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of United Airlines during the 2nd quarter worth $30,000. Armstrong Advisory Group Inc. acquired a new position in United Airlines in the 3rd quarter valued at $36,000. UMB Bank n.a. raised its holdings in United Airlines by 59.7% in 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 during the period. Finally, Blue Trust Inc. lifted its position in United Airlines by 108.6% during the 3rd quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock worth $43,000 after acquiring an additional 392 shares during the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Stock Performance

NASDAQ UAL opened at $96.83 on Tuesday. United Airlines Holdings, Inc. has a 1-year low of $37.02 and a 1-year high of $98.00. The company has a 50 day moving average of $72.33 and a 200-day moving average of $56.26. 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 firm has a market cap of $31.85 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.13 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results 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 firm had revenue of $14.84 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $3.65 EPS. On average, 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 of Directors has authorized a stock buyback plan on Tuesday, October 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at United Airlines

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 30,427 shares in the company, valued at $2,190,744. The trade was a 32.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kate Gebo sold 17,500 shares of the firm’s 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 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. 0.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UAL. Sanford C. Bernstein boosted their price objective on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Susquehanna increased their price target on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their target price on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley upped their price target on United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Barclays lifted 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.28.

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.