United Airlines Holdings Inc (NASDAQ:UAL) Shares Sold by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA owns approximately $1.51 billion in United Airlines stock, making it the firm's 22nd largest holding.
• Despite a 3.9% decrease in shares this quarter, institutional investors collectively own 69.69% of United Airlines' stock.
• United Airlines reported $3.87 EPS for the last quarter, slightly exceeding analysts' expectations, while revenue rose 1.4% year-over-year.

Primecap Management Co. CA lowered its position in United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,799,645 shares of the transportation company's stock after selling 879,830 shares during the period. United Airlines comprises approximately 1.2% of Primecap Management Co. CA's investment portfolio, making the stock its 22nd biggest position. Primecap Management Co. CA owned approximately 6.67% of United Airlines worth $1,505,265,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of UAL. Pacer Advisors Inc. raised its position in shares of United Airlines by 10,777.6% in the first quarter. Pacer Advisors Inc. now owns 5,068,103 shares of the transportation company's stock worth $349,953,000 after acquiring an additional 5,021,511 shares during the period. Sanders Capital LLC lifted its stake in United Airlines by 46.4% in the 4th quarter. Sanders Capital LLC now owns 13,848,308 shares of the transportation company's stock worth $1,344,671,000 after purchasing an additional 4,390,721 shares in the last quarter. FMR LLC lifted its stake in United Airlines by 70.9% in the 4th quarter. FMR LLC now owns 7,268,775 shares of the transportation company's stock worth $705,798,000 after purchasing an additional 3,015,979 shares in the last quarter. Senator Investment Group LP lifted its stake in United Airlines by 214.8% in the 4th quarter. Senator Investment Group LP now owns 3,261,051 shares of the transportation company's stock worth $316,648,000 after purchasing an additional 2,225,000 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of United Airlines by 22.4% in the 4th quarter. Capital World Investors now owns 9,788,405 shares of the transportation company's stock valued at $950,461,000 after buying an additional 1,791,654 shares during the period. Institutional investors and hedge funds own 69.69% of the company's stock.

Insider Activity

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

United Airlines Stock Up 1.5%

Shares of UAL traded up $1.31 during midday trading on Friday, reaching $89.29. The stock had a trading volume of 4,641,259 shares, compared to its average volume of 7,298,136. United Airlines Holdings Inc has a 1-year low of $40.13 and a 1-year high of $116.00. The company's fifty day simple moving average is $83.71 and its two-hundred day simple moving average is $82.40. The company has a market cap of $28.91 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 1.15 and a beta of 1.48. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.70 and a quick ratio of 0.65.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen increased their price target on shares of United Airlines from $101.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Cantor Fitzgerald set a $88.00 price target on shares of United Airlines in a research note on Tuesday, April 22nd. Bank of America increased their price target on shares of United Airlines from $90.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Sanford C. Bernstein reissued an "outperform" rating on shares of United Airlines in a research note on Tuesday, May 13th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $105.00 price objective on shares of United Airlines in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $111.43.

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.