Federated Hermes Inc. Has $27.72 Million Position in United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• Federated Hermes Inc. increased its stake in United Airlines by 238.8%, owning approximately $27.72 million in shares as of the latest SEC filing.
• United Airlines reported a quarterly EPS of $3.87, exceeding expectations, while revenue for the quarter was $15.24 billion, slightly below analyst forecasts.
• Several analysts have set new price targets for United Airlines, with TD Cowen raising its target from $101 to $127 and maintaining a "buy" rating.

Federated Hermes Inc. boosted its position in United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 238.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 401,431 shares of the transportation company's stock after buying an additional 282,932 shares during the quarter. Federated Hermes Inc. owned approximately 0.12% of United Airlines worth $27,719,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in shares of United Airlines by 2.2% in the 1st quarter. Meeder Asset Management Inc. now owns 112,173 shares of the transportation company's stock valued at $7,746,000 after acquiring an additional 2,373 shares in the last quarter. Meeder Advisory Services Inc. grew its stake in United Airlines by 11.9% in the first quarter. Meeder Advisory Services Inc. now owns 10,440 shares of the transportation company's stock valued at $721,000 after purchasing an additional 1,113 shares in the last quarter. LPL Financial LLC increased its position in shares of United Airlines by 45.2% during the 1st quarter. LPL Financial LLC now owns 245,695 shares of the transportation company's stock worth $16,965,000 after purchasing an additional 76,450 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of United Airlines by 212.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,447 shares of the transportation company's stock worth $2,102,000 after purchasing an additional 20,707 shares during the last quarter. Finally, Empirical Finance LLC raised its stake in shares of United Airlines by 2.7% during the 1st quarter. Empirical Finance LLC now owns 11,210 shares of the transportation company's stock worth $774,000 after purchasing an additional 290 shares in the last quarter. Institutional investors own 69.69% of the company's stock.

United Airlines Price Performance

United Airlines stock opened at $88.31 on Friday. The company has a market capitalization of $28.59 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.16 and a beta of 1.42. The stock's 50 day moving average is $82.46 and its 200-day moving average is $83.39. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 1.56. United Airlines Holdings Inc has a 12 month low of $37.02 and a 12 month high of $116.00.

United Airlines (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The transportation company reported $3.87 EPS for the quarter, beating analysts' consensus estimates of $3.81 by $0.06. The firm had revenue of $15.24 billion for the quarter, compared to analyst estimates of $15.31 billion. United Airlines had a return on equity of 30.09% and a net margin of 5.71%. The company's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.14 EPS. Equities research analysts expect that United Airlines Holdings Inc will post 12.96 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cowen reissued a "buy" rating on shares of United Airlines in a research note on Tuesday, July 15th. TD Cowen lifted their price objective on shares of United Airlines from $101.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Susquehanna upped their target price on shares of United Airlines from $81.00 to $109.00 and gave the company a "positive" rating in a report on Tuesday, July 15th. Wall Street Zen downgraded shares of United Airlines from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Barclays reissued an "overweight" rating and set a $100.00 price target (up previously from $94.00) on shares of United Airlines in a research report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, United Airlines currently has a consensus rating of "Buy" and a consensus price target of $111.43.

Insider Activity at United Airlines

In other United Airlines news, EVP Torbjorn J. Enqvist sold 20,000 shares of United Airlines stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $92.22, for a total value of $1,844,400.00. Following the completion of the sale, the executive vice president owned 62,358 shares in the company, valued at $5,750,654.76. The trade was a 24.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michelle Freyre sold 900 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $92.13, for a total transaction of $82,917.00. Following the completion of the sale, the director directly owned 829 shares of the company's stock, valued at $76,375.77. This represents a 52.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,672 shares of company stock worth $4,144,411. Corporate insiders own 0.71% 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.

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