State of Michigan Retirement System Lowers Holdings in United Airlines Holdings, Inc. (NASDAQ:UAL)

State of Michigan Retirement System reduced its stake in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 89,228 shares of the transportation company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in United Airlines were worth $8,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE boosted its stake in United Airlines by 13.2% during the third quarter. US Bancorp DE now owns 11,961 shares of the transportation company’s stock valued at $682,000 after buying an additional 1,391 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of United Airlines by 13.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock valued at $94,000 after acquiring an additional 189 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of United Airlines in the third quarter valued at $194,000. Janney Montgomery Scott LLC raised its stake in United Airlines by 1.1% during the third quarter. Janney Montgomery Scott LLC now owns 22,404 shares of the transportation company’s stock valued at $1,278,000 after purchasing an additional 248 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in United Airlines by 22.6% during the third quarter. Asset Management One Co. Ltd. now owns 6,487 shares of the transportation company’s stock valued at $370,000 after purchasing an additional 1,194 shares during the last quarter. Institutional investors own 69.69% of the company’s stock.

Analysts Set New Price Targets

UAL has been the subject of several recent research reports. UBS Group lifted their price target on United Airlines from $139.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on United Airlines from $108.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. TD Cowen boosted their price objective on shares of United Airlines from $142.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Melius Research upgraded shares of United Airlines to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Susquehanna restated a “hold” rating on shares of United Airlines in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, United Airlines presently has a consensus rating of “Buy” and an average target price of $113.88.

United Airlines Stock Performance

Shares of UAL stock opened at $91.27 on Thursday. The company’s 50 day moving average is $102.34 and its 200 day moving average is $82.64. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. The firm has a market cap of $29.88 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.67 and a beta of 1.41. United Airlines Holdings, Inc. has a 52-week low of $37.02 and a 52-week high of $116.00.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, January 21st. The transportation company reported $3.26 EPS for the quarter, topping the consensus estimate of $2.96 by $0.30. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The firm had revenue of $14.70 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same period in the previous year, the company posted $2.00 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that United Airlines Holdings, Inc. will post 12.96 EPS for the current fiscal year.

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.