Royal Bank of Canada Has $63.37 Million Stock Position in United Airlines Holdings Inc $UAL

Key Points

• The Royal Bank of Canada increased its stake in United Airlines Holdings Inc by 19.1%, bringing their total to 917,755 shares valued at approximately $63.37 million.
• Multiple institutional investors, including Bank of New York Mellon and GAMMA Investing, have also increased their positions in United Airlines, with 69.69% of the stock currently held by such investors.
• Wall Street analysts have shown optimism for United Airlines, raising price targets significantly, with an average rating of "Buy" and a consensus price target of $111.43.

Royal Bank of Canada increased its position in United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 19.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 917,755 shares of the transportation company's stock after purchasing an additional 147,061 shares during the quarter. Royal Bank of Canada owned approximately 0.28% of United Airlines worth $63,371,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in United Airlines by 1.1% in 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 purchasing an additional 16,477 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in United Airlines in the first quarter worth about $15,089,000. Generate Investment Management Ltd acquired a new stake in United Airlines in the first quarter worth about $10,773,000. Exchange Traded Concepts LLC increased its position 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 worth $518,000 after purchasing an additional 4,281 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of United Airlines by 7,225.9% during the 1st quarter. GAMMA Investing LLC now owns 360,579 shares of the transportation company's stock worth $24,898,000 after buying an additional 355,657 shares during the period. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UAL has been the subject of several analyst reports. Susquehanna boosted their target price on United Airlines from $81.00 to $109.00 and gave the stock a "positive" rating in a research report on Tuesday, July 15th. TD Cowen boosted their target price on United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Bank of America boosted their target price on United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Barclays restated an "overweight" rating and set a $100.00 target price (up from $94.00) on shares of United Airlines in a research report on Tuesday, July 15th. Finally, Wall Street Zen lowered United Airlines from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, United Airlines has an average rating of "Buy" and a consensus price target of $111.43.

United Airlines Price Performance

Shares of UAL opened at $106.05 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.65 and a current ratio of 0.70. The stock has a 50 day simple moving average of $92.59 and a 200 day simple moving average of $82.02. United Airlines Holdings Inc has a 52-week low of $44.57 and a 52-week high of $116.00. The firm has a market capitalization of $34.33 billion, a PE ratio of 10.63, a P/E/G ratio of 1.37 and a beta of 1.47.

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

Insiders Place Their Bets

In related news, President Brett J. Hart sold 24,772 shares of the business'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 in the company, valued at approximately $25,385,601. The trade was a 8.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelle Freyre sold 900 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $92.13, for a total value of $82,917.00. Following the completion of the sale, the director owned 829 shares in the company, valued at $76,375.77. The trade was a 52.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,791 shares of company stock worth $9,992,318 in the last three months. 0.71% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding UAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Airlines Holdings Inc (NASDAQ:UAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.