New York State Teachers Retirement System Trims Stake in United Airlines Holdings, Inc. (NASDAQ:UAL)

New York State Teachers Retirement System reduced its position in United Airlines Holdings, Inc. (NASDAQ:UAL - Free Report) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 313,704 shares of the transportation company's stock after selling 12,006 shares during the period. New York State Teachers Retirement System owned about 0.10% of United Airlines worth $17,900,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas purchased a new stake in shares of United Airlines during the 1st quarter valued at about $25,000. Fidelis Capital Partners LLC bought a new stake in United Airlines in the 1st quarter worth approximately $27,000. Global Trust Asset Management LLC purchased a new stake in United Airlines during the 3rd quarter valued at $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of United Airlines during the 2nd quarter valued at $30,000. Finally, Crewe Advisors LLC purchased a new position in shares of United Airlines in the 1st quarter worth $32,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UAL has been the subject of a number of research reports. Morgan Stanley upped their price objective on United Airlines from $80.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. TD Cowen upped their price target on shares of United Airlines from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Susquehanna raised their price objective on shares of United Airlines from $70.00 to $85.00 and gave the stock a "positive" rating in a report on Thursday, October 17th. Jefferies Financial Group upped their target price on shares of United Airlines from $75.00 to $95.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, Sanford C. Bernstein lifted their price target on shares of United Airlines from $68.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.94.

Insider Activity

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business's stock in a transaction 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 owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company's stock.

United Airlines Price Performance

UAL stock traded up $2.20 during mid-day trading on Friday, hitting $80.46. The company had a trading volume of 6,762,276 shares, compared to its average volume of 9,428,764. The company has a 50-day moving average price of $58.30 and a 200 day moving average price of $52.06. United Airlines Holdings, Inc. has a 12-month low of $35.24 and a 12-month high of $81.35. The company has a market capitalization of $26.46 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 0.93 and a beta of 1.39. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.23. The company had revenue of $14.84 billion for the quarter, compared to the consensus estimate 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 business earned $3.65 earnings per share. On average, research analysts anticipate that United Airlines Holdings, Inc. will post 10.18 earnings per share for the current year.

United Airlines announced that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.