Principal Financial Group Inc. Has $23.65 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

Principal Financial Group Inc. raised its position in shares of Delta Air Lines, Inc. (NYSE:DALGet Rating) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 816,191 shares of the transportation company’s stock after buying an additional 38,337 shares during the period. Principal Financial Group Inc.’s holdings in Delta Air Lines were worth $23,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Commerce Bank increased its holdings in shares of Delta Air Lines by 35.0% in the first quarter. Commerce Bank now owns 23,067 shares of the transportation company’s stock valued at $913,000 after purchasing an additional 5,975 shares in the last quarter. Argent Trust Co increased its holdings in shares of Delta Air Lines by 3.1% in the first quarter. Argent Trust Co now owns 34,172 shares of the transportation company’s stock valued at $1,352,000 after purchasing an additional 1,037 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Delta Air Lines by 1.6% in the first quarter. Treasurer of the State of North Carolina now owns 244,304 shares of the transportation company’s stock valued at $9,667,000 after purchasing an additional 3,745 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Delta Air Lines by 118.5% in the second quarter. Diversified Trust Co now owns 16,490 shares of the transportation company’s stock valued at $478,000 after purchasing an additional 8,942 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Delta Air Lines by 2.4% in the first quarter. Private Advisor Group LLC now owns 78,128 shares of the transportation company’s stock valued at $3,092,000 after purchasing an additional 1,801 shares in the last quarter. Institutional investors and hedge funds own 67.90% of the company’s stock.

Delta Air Lines Trading Up 1.2 %

DAL opened at $34.47 on Monday. The stock has a market capitalization of $22.10 billion, a P/E ratio of 313.36 and a beta of 1.22. Delta Air Lines, Inc. has a 12 month low of $27.20 and a 12 month high of $46.27. The firm’s fifty day simple moving average is $31.96 and its 200 day simple moving average is $33.20. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 4.62.

Delta Air Lines (NYSE:DALGet Rating) last posted its quarterly earnings data on Thursday, October 13th. The transportation company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.02). The company had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $13.62 billion. Delta Air Lines had a net margin of 0.18% and a return on equity of 32.62%. The company’s revenue was up 52.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, research analysts anticipate that Delta Air Lines, Inc. will post 2.9 EPS for the current fiscal year.

Insider Activity at Delta Air Lines

In related news, EVP Joanne D. Smith sold 2,000 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $34.19, for a total value of $68,380.00. Following the sale, the executive vice president now directly owns 111,153 shares of the company’s stock, valued at approximately $3,800,321.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on DAL shares. TheStreet raised shares of Delta Air Lines from a “d+” rating to a “c-” rating in a report on Tuesday, September 20th. Cowen raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating and set a $54.00 price objective on the stock in a research note on Friday, October 14th. StockNews.com began coverage on shares of Delta Air Lines in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Jefferies Financial Group raised their price objective on shares of Delta Air Lines from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 24th. Finally, Melius began coverage on shares of Delta Air Lines in a research note on Monday, August 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.56.

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.

See Also

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

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