Delta Air Lines, Inc. (DAL) Position Boosted by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,280,787 shares of the transportation company’s stock after buying an additional 33,002 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.18% of Delta Air Lines worth $68,830,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Patten Group Inc. boosted its stake in Delta Air Lines by 0.3% in the first quarter. Patten Group Inc. now owns 9,307 shares of the transportation company’s stock worth $420,000 after buying an additional 30 shares in the last quarter. Wetherby Asset Management Inc. raised its position in shares of Delta Air Lines by 0.8% in the first quarter. Wetherby Asset Management Inc. now owns 6,020 shares of the transportation company’s stock worth $277,000 after buying an additional 49 shares during the last quarter. Independent Advisor Alliance raised its position in shares of Delta Air Lines by 0.8% in the first quarter. Independent Advisor Alliance now owns 8,254 shares of the transportation company’s stock worth $372,000 after buying an additional 64 shares during the last quarter. Banced Corp raised its position in shares of Delta Air Lines by 1.2% in the second quarter. Banced Corp now owns 7,895 shares of the transportation company’s stock worth $425,000 after buying an additional 96 shares during the last quarter. Finally, M Holdings Securities Inc. raised its position in shares of Delta Air Lines by 1.4% in the fourth quarter. M Holdings Securities Inc. now owns 7,718 shares of the transportation company’s stock worth $380,000 after buying an additional 103 shares during the last quarter. 87.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Delta Air Lines, Inc. (DAL) opened at 52.26 on Monday. The company has a 50 day moving average price of $53.10 and a 200-day moving average price of $49.43. Delta Air Lines, Inc. has a 52-week low of $35.84 and a 52-week high of $55.75. The firm has a market cap of $38.05 billion, a P/E ratio of 10.36 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 for the quarter, missing the Zacks’ consensus estimate of $1.66 by $0.02. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the company earned $1.47 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.

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A number of research analysts have commented on the company. Cowen and Company reiterated an “outperform” rating and issued a $58.00 price objective on shares of Delta Air Lines in a research report on Monday, April 17th. Bank of America Corporation increased their price objective on Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Stifel Nicolaus reiterated a “buy” rating on shares of Delta Air Lines in a research report on Friday, May 26th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $60.00 price objective on shares of Delta Air Lines in a research report on Thursday, July 13th. Finally, Citigroup Inc. increased their price objective on Delta Air Lines from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 12th. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $59.41.

In other Delta Air Lines news, President Glen W. Hauenstein sold 67,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.15, for a total value of $3,695,050.00. Following the completion of the sale, the president now owns 239,418 shares in the company, valued at approximately $13,203,902.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Edward H. Bastian sold 25,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $48.55, for a total transaction of $1,213,750.00. Following the completion of the sale, the chief executive officer now owns 285,508 shares of the company’s stock, valued at approximately $13,861,413.40. The disclosure for this sale can be found here. In the last quarter, insiders acquired 342,000 shares of company stock valued at $27,360 and sold 131,306 shares valued at $6,924,439. Company 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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