Retirement Systems of Alabama Has $29.05 Million Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Retirement Systems of Alabama trimmed its stake in United Airlines Holdings, Inc. (NASDAQ:UAL) by 13.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 509,150 shares of the transportation company’s stock after selling 75,821 shares during the quarter. Retirement Systems of Alabama owned about 0.15% of United Airlines worth $29,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Global Trust Asset Management LLC bought a new position in shares of United Airlines in the 3rd quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new position in United Airlines during the second quarter worth $30,000. Armstrong Advisory Group Inc. bought a new position in shares of United Airlines in the third quarter valued at $36,000. UMB Bank n.a. grew its holdings in shares of United Airlines by 59.7% during the second quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after buying an additional 255 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of United Airlines by 108.6% during the third quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock worth $43,000 after acquiring an additional 392 shares in the last quarter. 69.69% of the stock is owned by institutional investors.

United Airlines Stock Performance

Shares of UAL stock opened at $95.11 on Friday. United Airlines Holdings, Inc. has a 12 month low of $37.02 and a 12 month high of $105.09. The stock has a market capitalization of $31.28 billion, a P/E ratio of 11.47, a PEG ratio of 1.17 and a beta of 1.44. 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’s 50 day moving average is $84.18 and its 200 day moving average is $60.49.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS 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 analyst estimates of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same period in the previous year, the business earned $3.65 EPS. On average, sell-side analysts anticipate that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

United Airlines declared that its board has authorized a share buyback program on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in 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 typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have commented on UAL shares. TD Cowen boosted their price objective on United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Dbs Bank upgraded United Airlines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 26th. Sanford C. Bernstein lifted their price objective on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Melius Research upgraded shares of United Airlines to a “strong-buy” rating in a report on Monday, December 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $119.00 price target on shares of United Airlines in a research report on Friday, November 15th. One investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $98.95.

Insider Buying and Selling

In other United Airlines news, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.44, for a total value of $1,407,700.00. Following the transaction, the executive vice president now owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This represents a 30.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction that occurred 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 directly owns 30,427 shares of the company’s stock, valued at $2,190,744. The trade was a 32.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock worth $8,158,900 in the last three months. 0.63% of the stock is owned by corporate insiders.

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.