Newport Trust Co Trims Stake in United Continental Holdings Inc (NASDAQ:UAL)

Newport Trust Co reduced its stake in shares of United Continental Holdings Inc (NASDAQ:UAL) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,783,966 shares of the transportation company’s stock after selling 51,324 shares during the quarter. United Continental accounts for 1.1% of Newport Trust Co’s holdings, making the stock its 12th largest position. Newport Trust Co owned approximately 1.89% of United Continental worth $422,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Moody National Bank Trust Division grew its holdings in United Continental by 4.0% in the second quarter. Moody National Bank Trust Division now owns 4,570 shares of the transportation company’s stock valued at $400,000 after purchasing an additional 176 shares during the period. Wetherby Asset Management Inc. grew its holdings in United Continental by 6.2% in the second quarter. Wetherby Asset Management Inc. now owns 3,286 shares of the transportation company’s stock valued at $288,000 after purchasing an additional 191 shares during the period. Pinnacle Associates Ltd. grew its holdings in United Continental by 1.1% in the second quarter. Pinnacle Associates Ltd. now owns 19,189 shares of the transportation company’s stock valued at $1,680,000 after purchasing an additional 200 shares during the period. State of Michigan Retirement System grew its holdings in United Continental by 0.4% in the third quarter. State of Michigan Retirement System now owns 53,144 shares of the transportation company’s stock valued at $4,698,000 after purchasing an additional 200 shares during the period. Finally, Balasa Dinverno & Foltz LLC grew its holdings in United Continental by 2.1% in the second quarter. Balasa Dinverno & Foltz LLC now owns 10,982 shares of the transportation company’s stock valued at $961,000 after purchasing an additional 226 shares during the period. Institutional investors own 98.60% of the company’s stock.

UAL has been the topic of several research analyst reports. Buckingham Research raised their price objective on United Continental from $111.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Goldman Sachs Group set a $128.00 price objective on United Continental and gave the company a “buy” rating in a report on Wednesday, October 9th. Zacks Investment Research raised United Continental from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Friday, August 16th. Morgan Stanley lowered their price target on United Continental from $108.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of United Continental in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $103.07.

NASDAQ UAL traded down $0.36 on Friday, reaching $93.44. 914,900 shares of the company were exchanged, compared to its average volume of 2,792,374. The business’s fifty day moving average price is $89.11 and its 200 day moving average price is $87.21. The stock has a market capitalization of $23.56 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 0.38 and a beta of 1.18. The company has a current ratio of 0.54, a quick ratio of 0.48 and a debt-to-equity ratio of 1.60. United Continental Holdings Inc has a fifty-two week low of $77.02 and a fifty-two week high of $97.85.

United Continental (NASDAQ:UAL) last released its quarterly earnings data on Tuesday, October 15th. The transportation company reported $4.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.97 by $0.10. The company had revenue of $11.38 billion for the quarter, compared to analyst estimates of $11.43 billion. United Continental had a return on equity of 30.06% and a net margin of 6.60%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 earnings per share. Equities research analysts forecast that United Continental Holdings Inc will post 11.96 earnings per share for the current year.

In other United Continental news, Director Carolyn Corvi sold 1,032 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $86.37, for a total transaction of $89,133.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward Shapiro acquired 10,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $82.00 per share, for a total transaction of $820,000.00. Following the purchase, the director now directly owns 182,707 shares of the company’s stock, valued at approximately $14,981,974. The disclosure for this purchase can be found here. Insiders have sold 3,072 shares of company stock worth $273,416 in the last three months. 0.40% of the stock is currently owned by corporate insiders.

United Continental Company Profile

United Continental Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, the Middle East, and Latin America. It transports people and cargo through its mainline and regional operations. As of December 31, 2018, the company operated a fleet of 1,329 aircraft.

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Institutional Ownership by Quarter for United Continental (NASDAQ:UAL)

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