Deane Retirement Strategies Inc. Purchases New Position in Delta Air Lines, Inc. (NYSE:DAL)

Deane Retirement Strategies Inc. purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 29,047 shares of the transportation company’s stock, valued at approximately $1,561,000. Delta Air Lines makes up approximately 1.3% of Deane Retirement Strategies Inc.’s holdings, making the stock its 25th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. FNY Managed Accounts LLC acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $100,000. Tompkins Financial Corp acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $107,000. TrimTabs Asset Management LLC increased its position in shares of Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock worth $111,000 after buying an additional 1,136 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock worth $127,000 after buying an additional 793 shares in the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Shares of Delta Air Lines, Inc. (DAL) opened at 53.79 on Thursday. The stock’s 50 day moving average price is $52.99 and its 200-day moving average price is $49.41. Delta Air Lines, Inc. has a 12 month low of $35.84 and a 12 month high of $55.75. The firm has a market capitalization of $39.16 billion, a PE ratio of 10.66 and a beta of 1.22.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The firm had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter last year, the firm posted $1.47 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.

A number of research analysts recently commented on the company. Evercore ISI reissued an “outperform” rating and issued a $66.00 price target on shares of Delta Air Lines in a report on Friday, July 14th. Sanford C. Bernstein restated an “outperform” rating and set a $60.00 price objective on shares of Delta Air Lines in a research note on Thursday, July 13th. Cowen and Company upped their price objective on Delta Air Lines from $58.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating and set a $80.00 price objective (up previously from $75.00) on shares of Delta Air Lines in a research note on Friday, July 14th. Finally, Vetr upgraded Delta Air Lines from a “hold” rating to a “buy” rating and set a $56.43 price objective on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $59.41.

In related news, COO W Gilbert West sold 26,131 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $50.47, for a total value of $1,318,831.57. Following the completion of the transaction, the chief operating officer now owns 89,232 shares in the company, valued at approximately $4,503,539.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $55.26, for a total transaction of $276,300.00. Following the completion of the transaction, the vice president now owns 7,437 shares of the company’s stock, valued at approximately $410,968.62. The disclosure for this sale can be found here. In the last quarter, insiders bought 442,000 shares of company stock valued at $35,360 and sold 127,606 shares valued at $6,724,639. Insiders own 0.37% of the company’s stock.

Delta Air Lines Company Profile

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.