Hedges Asset Management LLC Takes Position in Delta Air Lines, Inc. (NYSE:DAL)

Hedges Asset Management LLC purchased a new position in Delta Air Lines, Inc. (NYSE:DALFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,700 shares of the transportation company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DAL. AE Wealth Management LLC lifted its stake in Delta Air Lines by 14.4% in the second quarter. AE Wealth Management LLC now owns 9,033 shares of the transportation company’s stock valued at $429,000 after buying an additional 1,138 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Delta Air Lines by 16.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 88,241 shares of the transportation company’s stock valued at $4,186,000 after purchasing an additional 12,269 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Delta Air Lines by 62.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,928 shares of the transportation company’s stock valued at $1,467,000 after purchasing an additional 11,881 shares during the period. Point72 Hong Kong Ltd bought a new position in Delta Air Lines in the 2nd quarter worth about $616,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Delta Air Lines in the second quarter valued at approximately $180,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Rahul D. Samant sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $58.53, for a total value of $585,300.00. Following the completion of the transaction, the executive vice president now owns 64,163 shares of the company’s stock, valued at approximately $3,755,460.39. This trade represents a 13.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the sale, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 217,429 shares of company stock worth $13,755,259. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Down 0.5 %

Shares of NYSE:DAL opened at $67.41 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The stock has a market capitalization of $43.50 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 0.80 and a beta of 1.35. Delta Air Lines, Inc. has a 1-year low of $37.29 and a 1-year high of $69.98. The company has a 50 day moving average price of $63.06 and a 200 day moving average price of $52.94.

Delta Air Lines (NYSE:DALGet Free Report) last released its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.43% and a net margin of 5.61%. The business had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.20 billion. During the same period last year, the company posted $1.28 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Delta Air Lines, Inc. will post 7.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DAL shares. Jefferies Financial Group boosted their price objective on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Sanford C. Bernstein boosted their price target on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Citigroup raised their price target on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays upped their price objective on shares of Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Susquehanna raised their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of “Buy” and an average price target of $78.22.

Read Our Latest Analysis on Delta Air Lines

Delta Air Lines Profile

(Free Report)

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.

Further Reading

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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