OLD National Bancorp IN Trims Stake in United Airlines Holdings Inc $UAL

Key Points

• OLD National Bancorp IN has reduced its stake in United Airlines Holdings Inc by 11.2% in the second quarter, owning 104,612 shares valued at approximately $8.33 million after selling 13,142 shares.
• Several institutional investors are actively adjusting their positions in United Airlines, with Bank of New York Mellon Corp increasing its stake by 1.1% and other firms making significant new investments.
• Analysts have raised their price targets for United Airlines, with Evercore ISI setting a new objective of $135.00 and the consensus rating being "Buy" with an average target price of $120.64.

OLD National Bancorp IN lessened its position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 11.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,612 shares of the transportation company's stock after selling 13,142 shares during the quarter. OLD National Bancorp IN's holdings in United Airlines were worth $8,330,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of United Airlines by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 1,520,643 shares of the transportation company's stock worth $105,000,000 after acquiring an additional 16,477 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in United Airlines during the 1st quarter worth $15,089,000. Generate Investment Management Ltd purchased a new position in United Airlines during the 1st quarter worth $10,773,000. Exchange Traded Concepts LLC increased its stake in United Airlines by 132.9% in the first quarter. Exchange Traded Concepts LLC now owns 7,503 shares of the transportation company's stock valued at $518,000 after purchasing an additional 4,281 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of United Airlines by 147.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,113 shares of the transportation company's stock valued at $1,113,000 after buying an additional 9,604 shares during the last quarter. Institutional investors and hedge funds own 69.69% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays boosted their price target on United Airlines from $100.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America boosted their target price on United Airlines from $90.00 to $108.00 and gave the company a "buy" rating in a report on Friday, July 18th. TD Cowen upped their price target on United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Susquehanna boosted their price objective on shares of United Airlines from $109.00 to $115.00 and gave the company a "positive" rating in a research note on Friday. Finally, Evercore ISI upped their price objective on shares of United Airlines from $105.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, United Airlines presently has a consensus rating of "Buy" and an average target price of $120.64.

Insiders Place Their Bets

In related news, President Brett J. Hart sold 24,772 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $89.50, for a total value of $2,217,094.00. Following the completion of the transaction, the president directly owned 283,638 shares of the company's stock, valued at $25,385,601. This trade represents a 8.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Barney Harford sold 9,000 shares of United Airlines stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $97.76, for a total value of $879,840.00. Following the transaction, the director directly owned 80,000 shares of the company's stock, valued at approximately $7,820,800. This represents a 10.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,791 shares of company stock worth $9,992,318. 0.63% of the stock is owned by insiders.

United Airlines Price Performance

Shares of NASDAQ UAL opened at $95.33 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.65 and a current ratio of 0.70. United Airlines Holdings Inc has a one year low of $52.00 and a one year high of $116.00. The firm has a market capitalization of $30.86 billion, a P/E ratio of 9.55, a PEG ratio of 1.20 and a beta of 1.45. The company's fifty day moving average is $99.53 and its two-hundred day moving average is $84.34.

United Airlines (NASDAQ:UAL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The transportation company reported $3.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.81 by $0.06. The business had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $15.31 billion. United Airlines had a net margin of 5.71% and a return on equity of 30.09%. The business's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.14 EPS. United Airlines has set its FY 2025 guidance at 9.000-11.000 EPS. Analysts forecast that United Airlines Holdings Inc will post 12.96 EPS for the current fiscal year.

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.

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