Bank of New York Mellon Corp Acquires New Position in United Airlines Holdings Inc $UAL

Key Points

• Bank of New York Mellon acquired 1.31 million United Airlines shares worth approximately $178.5 million, representing about 0.40% of the company. Institutional investors collectively own 69.69% of UAL.
• Analyst sentiment remains favorable, with 16 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $156.79.
• United Airlines exceeded quarterly expectations, reporting $1.99 in earnings per share and $17.67 billion in revenue, up 16.4% year over year. However, company executives sold shares to cover tax obligations, while the stock recently traded at $113.17.

Bank of New York Mellon Corp purchased a new stake in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,312,655 shares of the transportation company's stock, valued at approximately $178,508,000. Bank of New York Mellon Corp owned approximately 0.40% of United Airlines at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its stake in United Airlines by 393.0% in the second quarter. Elevation Wealth Partners LLC now owns 212 shares of the transportation company's stock valued at $29,000 after buying an additional 169 shares during the last quarter. Legacy Wealth Managment LLC ID bought a new position in shares of United Airlines in the fourth quarter valued at approximately $25,000. Western Wealth Management LLC acquired a new position in shares of United Airlines during the 1st quarter valued at $27,000. JPL Wealth Management LLC acquired a new position in United Airlines during the third quarter worth about $29,000. Finally, Motiv8 Investments LLC acquired a new position in shares of United Airlines in the 4th quarter worth approximately $35,000. Institutional investors own 69.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Susquehanna cut their target price on United Airlines from $172.00 to $165.00 and set a "positive" rating on the stock in a research report on Friday, July 17th. Wells Fargo & Company raised their price objective on shares of United Airlines from $130.00 to $165.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Wall Street Zen cut shares of United Airlines from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group upped their target price on shares of United Airlines from $148.00 to $153.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Finally, Barclays raised their price objective on shares of United Airlines from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Sixteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $156.79.

United Airlines Price Performance

NASDAQ:UAL opened at $113.17 on Friday. United Airlines Holdings Inc has a 52 week low of $84.64 and a 52 week high of $138.77. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.72 and a current ratio of 0.78. The firm's 50-day simple moving average is $124.00 and its 200 day simple moving average is $108.55. The firm has a market cap of $36.73 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 0.87 and a beta of 1.28.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The transportation company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.88 by $0.11. The company had revenue of $17.67 billion during the quarter, compared to the consensus estimate of $17.62 billion. United Airlines had a net margin of 5.56% and a return on equity of 19.05%. The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.87 earnings per share. United Airlines has set its FY 2026 guidance at 9.000-11.000 EPS. As a group, sell-side analysts predict that United Airlines Holdings Inc will post 10.38 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Torbjorn J. Enqvist sold 20,000 shares of the firm's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $119.91, for a total value of $2,398,200.00. Following the transaction, the executive vice president owned 114,800 shares in the company, valued at approximately $13,765,668. This trade represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Andrew P. Nocella sold 4,200 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $120.48, for a total value of $506,016.00. Following the completion of the transaction, the executive vice president directly owned 222,955 shares of the company's stock, valued at approximately $26,861,618.40. This trade represents a 1.85% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 306,010 shares of company stock valued at $35,949,843 in the last ninety days. Insiders own 0.86% of the company's stock.

About United Airlines

United Airlines Holdings, Inc operates United Airlines, a major U.S. full-service passenger carrier providing scheduled air transportation for passengers and cargo. The company offers a comprehensive route network that covers domestic markets across the United States as well as extensive international service to Europe, Asia, Latin America, and the Pacific. United operates a mixed fleet of narrow- and wide-body aircraft on point-to-point and hub-and-spoke routes, and supports corporate and leisure travel through offerings such as premium cabins, basic economy, and ancillary services including baggage, seat selection and in-flight amenities.

In addition to passenger operations, United provides cargo services through United Cargo, handling freight, mail and specialized shipments.

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