National Bank of Canada FI lifted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL – Get Rating) by 22.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,202 shares of the transportation company's stock after purchasing an additional 1,707 shares during the quarter. National Bank of Canada FI's holdings in Delta Air Lines were worth $364,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in Delta Air Lines by 1.5% in the fourth quarter. State Street Corp now owns 22,075,797 shares of the transportation company's stock valued at $862,722,000 after acquiring an additional 336,057 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Delta Air Lines by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 11,317,760 shares of the transportation company's stock valued at $441,460,000 after acquiring an additional 347,361 shares during the last quarter. Lansdowne Partners UK LLP boosted its holdings in Delta Air Lines by 10.7% in the fourth quarter. Lansdowne Partners UK LLP now owns 4,452,261 shares of the transportation company's stock valued at $173,995,000 after acquiring an additional 430,584 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Delta Air Lines by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,075,617 shares of the transportation company's stock valued at $120,196,000 after acquiring an additional 105,080 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Delta Air Lines by 7.9% in the fourth quarter. Invesco Ltd. now owns 2,774,222 shares of the transportation company's stock valued at $108,417,000 after acquiring an additional 203,702 shares during the last quarter. Institutional investors and hedge funds own 63.24% of the company's stock.
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Shares of NYSE DAL opened at $33.21 on Wednesday. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.59 and a current ratio of 0.66. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 36.10 and a beta of 1.20. Delta Air Lines, Inc. has a 1 year low of $28.09 and a 1 year high of $46.27. The stock's 50-day simple moving average is $32.16 and its 200-day simple moving average is $36.97.
Delta Air Lines (NYSE:DAL – Get Rating) last announced its quarterly earnings data on Wednesday, July 13th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.27). The firm had revenue of $13.82 billion during the quarter, compared to the consensus estimate of $13.40 billion. Delta Air Lines had a net margin of 1.43% and a return on equity of 14.26%. The firm's quarterly revenue was up 93.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.07) earnings per share. As a group, equities analysts anticipate that Delta Air Lines, Inc. will post 2.8 earnings per share for the current fiscal year.Insider Activity at Delta Air Lines
In related news, EVP Joanne D. Smith sold 7,704 shares of the business's stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $41.48, for a total value of $319,561.92. Following the completion of the sale, the executive vice president now directly owns 113,153 shares of the company's stock, valued at $4,693,586.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Joanne D. Smith sold 7,704 shares of the business's stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $41.48, for a total value of $319,561.92. Following the completion of the sale, the executive vice president now directly owns 113,153 shares of the company's stock, valued at $4,693,586.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 27,664 shares of the business's stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $39.55, for a total value of $1,094,111.20. Following the completion of the sale, the chief executive officer now directly owns 446,712 shares of the company's stock, valued at $17,667,459.60. The disclosure for this sale can be found here. Insiders sold a total of 48,148 shares of company stock valued at $1,945,960 over the last three months. 0.84% of the stock is owned by insiders.
Analysts Set New Price Targets
DAL has been the topic of a number of research analyst reports. Susquehanna reduced their target price on Delta Air Lines from $47.00 to $35.00 and set a "positive" rating on the stock in a report on Tuesday, July 12th. Evercore ISI reduced their target price on Delta Air Lines from $65.00 to $56.00 and set an "outperform" rating on the stock in a report on Monday, June 27th. Barclays cut their price objective on Delta Air Lines from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, July 8th. Argus lowered Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Friday, July 15th. Finally, Raymond James reissued a "strong-buy" rating and issued a $50.00 price objective (down from $53.00) on shares of Delta Air Lines in a research report on Thursday, June 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Delta Air Lines currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.50.
About Delta Air Lines
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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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.
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