Franklin Resources Inc. Boosts Stock Position in United Airlines Holdings, Inc. (NASDAQ:UAL)

Franklin Resources Inc. raised its position in United Airlines Holdings, Inc. (NASDAQ:UAL) by 214.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,552 shares of the transportation company’s stock after purchasing an additional 138,191 shares during the period. Franklin Resources Inc.’s holdings in United Airlines were worth $11,558,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of United Airlines by 0.8% during the third quarter. State Street Corp now owns 10,320,253 shares of the transportation company’s stock valued at $588,874,000 after buying an additional 78,470 shares during the period. Sanders Capital LLC lifted its stake in shares of United Airlines by 12.4% during the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after purchasing an additional 1,040,589 shares during the period. Geode Capital Management LLC boosted its holdings in shares of United Airlines by 2.1% during the third quarter. Geode Capital Management LLC now owns 8,311,220 shares of the transportation company’s stock worth $477,526,000 after purchasing an additional 168,498 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of United Airlines by 29.1% in 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 purchasing an additional 1,263,604 shares during the period. Finally, Castle Hook Partners LP increased its stake in United Airlines by 176.1% in the third quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock valued at $242,227,000 after purchasing an additional 2,707,442 shares during the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.

United Airlines Trading Up 1.9 %

NASDAQ UAL opened at $97.40 on Friday. The stock has a market cap of $32.03 billion, a P/E ratio of 11.75, a PEG ratio of 1.12 and a beta of 1.44. The company’s fifty day simple moving average is $87.67 and its 200-day simple moving average is $62.06. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $105.09.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data 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 firm had revenue of $14.84 billion for 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 quarter in the previous year, the business posted $3.65 EPS. Equities research analysts predict that United Airlines Holdings, Inc. will post 10.27 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of analysts have issued reports on UAL shares. UBS Group reissued a “buy” rating and issued a $139.00 price target on shares of United Airlines in a research note on Tuesday, November 26th. Susquehanna boosted their target price 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. Melius Research raised shares of United Airlines to a “strong-buy” rating in a research note on Monday, December 2nd. TD Cowen boosted their price objective on shares of United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group increased 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. One equities 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 MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $98.95.

Insider Activity at United Airlines

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’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 directly owns 30,427 shares of the company’s stock, valued at $2,190,744. This represents a 32.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the transaction, the executive vice president now owns 63,599 shares in the company, valued at $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,000 shares of company stock valued at $8,158,900. 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.