Douglas Lane & Associates LLC reduced its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 2,087,389 shares of the transportation company’s stock after selling 10,281 shares during the period. Delta Air Lines comprises about 2.6% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its largest position. Douglas Lane & Associates LLC’s holdings in Delta Air Lines were worth $112,176,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of DAL. FNY Managed Accounts LLC bought a new position in shares of Delta Air Lines during the first quarter valued at about $100,000. Tompkins Financial Corp bought a new position in shares of Delta Air Lines during the first quarter valued at about $107,000. TrimTabs Asset Management LLC boosted 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 valued at $111,000 after buying an additional 1,136 shares during the period. Advisory Services Network LLC bought a new position in shares of Delta Air Lines during the first quarter valued at about $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted 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 valued at $127,000 after buying an additional 793 shares during the period. Hedge funds and other institutional investors own 86.15% of the company’s stock.
Delta Air Lines, Inc. (DAL) traded down 1.08% during midday trading on Friday, reaching $52.26. The company had a trading volume of 6,847,604 shares. The company’s 50 day moving average is $53.10 and its 200-day moving average is $49.43. The company has a market capitalization of $38.05 billion, a P/E ratio of 10.36 and a beta of 1.22. Delta Air Lines, Inc. has a 52-week low of $35.84 and a 52-week high of $55.75.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The business had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS. Equities analysts expect that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
Several research firms have issued reports on DAL. Vetr upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 target price on the stock in a research report on Monday, May 8th. Imperial Capital reiterated an “in-line” rating and set a $52.00 target price on shares of Delta Air Lines in a research report on Friday, May 19th. BidaskClub upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Atlantic Securities began coverage on Delta Air Lines in a research report on Tuesday, June 20th. They set an “overweight” rating and a $68.00 target price on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Delta Air Lines in a research report on Friday, May 26th. 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. Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $59.41.
In other Delta Air Lines news, EVP Joanne D. Smith sold 4,475 shares of Delta Air Lines stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $49.32, for a total value of $220,707.00. Following the transaction, the executive vice president now owns 85,398 shares in the company, valued at $4,211,829.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joanne D. Smith sold 3,700 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total transaction of $199,800.00. Following the completion of the transaction, the executive vice president now owns 77,223 shares in the company, valued at approximately $4,170,042. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 442,000 shares of company stock worth $35,360 and sold 131,306 shares worth $6,924,439. 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.
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