Geode Capital Management LLC Purchases 168,498 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

Geode Capital Management LLC increased its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,311,220 shares of the transportation company's stock after buying an additional 168,498 shares during the quarter. Geode Capital Management LLC owned 2.53% of United Airlines worth $477,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of UAL. Global Trust Asset Management LLC bought a new stake in United Airlines during the third quarter worth $29,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of United Airlines during the 2nd quarter worth $30,000. UMB Bank n.a. raised its stake 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 purchasing an additional 255 shares during the period. Armstrong Advisory Group Inc. purchased a new position in shares of United Airlines in the 3rd quarter worth about $36,000. Finally, Quest Partners LLC increased its holdings in United Airlines by 3,504.8% during the second quarter. Quest Partners LLC now owns 757 shares of the transportation company's stock worth $37,000 after buying an additional 736 shares during the last quarter. 69.69% of the stock is owned by hedge funds and other institutional investors.

United Airlines Price Performance

United Airlines stock traded down $0.86 during midday trading on Friday, hitting $95.11. 4,160,779 shares of the company's stock were exchanged, compared to its average volume of 8,201,457. The stock has a 50-day moving average price of $83.47 and a two-hundred day moving average price of $60.19. United Airlines Holdings, Inc. has a 52-week low of $37.02 and a 52-week high of $105.09. The company has a market cap of $31.28 billion, a P/E ratio of 11.58, a PEG ratio of 1.17 and a beta of 1.44. 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 (NASDAQ:UAL - Get Free Report) last announced its 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. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The business had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same period last year, the firm posted $3.65 earnings per share. On average, equities research analysts forecast that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

United Airlines declared that its board has initiated a stock repurchase program 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 programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

UAL has been the topic of a number of research analyst reports. Bank of America boosted 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. Dbs Bank raised United Airlines from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 26th. Citigroup boosted their target price on United Airlines from $98.00 to $122.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Barclays increased their price target on United Airlines from $75.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group boosted their price objective on United Airlines from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, October 21st. One research 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, United Airlines has a consensus rating of "Buy" and an average price target of $98.95.

Insider Buying and Selling

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business's 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 completion of the sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 32.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the transaction, 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. Over the last ninety days, insiders sold 92,000 shares of company stock worth $8,158,900. Corporate insiders own 0.63% of the company's stock.

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.