Intact Investment Management Inc. lifted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 15.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,200 shares of the transportation company’s stock after acquiring an additional 4,600 shares during the period. Intact Investment Management Inc.’s holdings in Delta Air Lines were worth $1,698,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in DAL. FNY Managed Accounts LLC acquired a new stake in shares of Delta Air Lines in the first quarter worth $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Delta Air Lines in the second quarter worth $114,000. BB&T Investment Services Inc. acquired a new stake in shares of Delta Air Lines in the second quarter worth $128,000. Bessemer Group Inc. grew its stake in shares of Delta Air Lines by 104.3% in the second quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock worth $137,000 after acquiring an additional 1,298 shares during the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of Delta Air Lines by 3.0% in the second quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
Delta Air Lines, Inc. (NYSE:DAL) opened at 50.50 on Wednesday. Delta Air Lines, Inc. has a one year low of $41.72 and a one year high of $55.75. The company has a market capitalization of $36.16 billion, a PE ratio of 10.15 and a beta of 1.24. The firm’s 50 day moving average price is $50.54 and its 200-day moving average price is $50.10.
Delta Air Lines (NYSE:DAL) last released its earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. The company had revenue of $11.06 billion for the quarter, compared to analyst estimates of $11.03 billion. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. Delta Air Lines’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.70 EPS. Equities analysts forecast that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
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In other news, EVP Joanne D. Smith sold 33,863 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $53.61, for a total transaction of $1,815,395.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Edward H. Bastian sold 159,240 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total value of $8,449,274.40. The disclosure for this sale can be found here. Over the last three months, insiders have bought 25,000 shares of company stock worth $274,160 and have sold 200,001 shares worth $10,630,333. Corporate insiders own 0.37% of the company’s stock.
Several brokerages have recently issued reports on DAL. Cowen and Company raised their price objective on shares of Delta Air Lines from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. Evercore ISI restated an “outperform” rating and issued a $66.00 price objective on shares of Delta Air Lines in a research note on Friday, July 14th. ValuEngine downgraded shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Imperial Capital raised their price objective on shares of Delta Air Lines from $52.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $80.00 price objective (up previously from $75.00) on shares of Delta Air Lines in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $63.84.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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