Perigon Wealth Management LLC Buys Shares of 10,914 United Airlines Holdings, Inc. (NASDAQ:UAL)

Perigon Wealth Management LLC purchased a new position in shares of United Airlines Holdings, Inc. (NASDAQ:UAL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,914 shares of the transportation company’s stock, valued at approximately $1,158,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Trust Asset Management LLC purchased a new position in United Airlines during the third quarter worth about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in United Airlines in the 2nd quarter valued at approximately $30,000. Armstrong Advisory Group Inc. acquired a new stake in United Airlines in the 3rd quarter valued at approximately $36,000. Winch Advisory Services LLC purchased a new stake in United Airlines in the fourth quarter valued at approximately $38,000. Finally, Blue Trust Inc. lifted its stake in United Airlines by 108.6% during the third quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock worth $43,000 after purchasing an additional 392 shares in the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UAL has been the topic of several research analyst reports. UBS Group boosted their price objective on United Airlines from $139.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on shares of United Airlines from $108.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Bank of America upped their target price on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Susquehanna raised their price target on shares of United Airlines from $85.00 to $120.00 and gave the company a “positive” rating in a research report on Tuesday, January 7th. Finally, Melius Research upgraded United Airlines to a “strong-buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $110.20.

Insider Activity

In other United Airlines news, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the transaction, the executive vice president now directly owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This trade represents a 48.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.63% of the company’s stock.

United Airlines Stock Performance

Shares of United Airlines stock opened at $109.40 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. United Airlines Holdings, Inc. has a 52 week low of $37.02 and a 52 week high of $116.00. The firm’s 50 day moving average is $100.23 and its two-hundred day moving average is $72.59. The firm has a market capitalization of $35.98 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.77 and a beta of 1.44.

United Airlines (NASDAQ:UAL) last announced 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 net margin of 5.52% and a return on equity of 32.26%. The firm had revenue of $14.70 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same period last year, the business earned $2.00 EPS. United Airlines’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts forecast that United Airlines Holdings, Inc. will post 12.7 EPS for the current fiscal year.

United Airlines declared that its board has initiated a share buyback program on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 7.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.