Janney Montgomery Scott LLC decreased its holdings in Delta Air Lines, Inc. (NYSE:DAL – Get Rating) by 23.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 164,879 shares of the transportation company’s stock after selling 49,666 shares during the period. Janney Montgomery Scott LLC’s holdings in Delta Air Lines were worth $4,627,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Diversified Trust Co raised its holdings in Delta Air Lines by 118.5% during the 2nd quarter. Diversified Trust Co now owns 16,490 shares of the transportation company’s stock valued at $478,000 after acquiring an additional 8,942 shares during the period. National Bank of Canada FI raised its stake in shares of Delta Air Lines by 7.5% during the 2nd quarter. National Bank of Canada FI now owns 9,888 shares of the transportation company’s stock valued at $287,000 after purchasing an additional 686 shares during the period. Brookstone Capital Management boosted its stake in Delta Air Lines by 4.5% in the 2nd quarter. Brookstone Capital Management now owns 61,600 shares of the transportation company’s stock worth $1,831,000 after purchasing an additional 2,641 shares during the period. Avantax Advisory Services Inc. grew its holdings in Delta Air Lines by 9.5% during the 2nd quarter. Avantax Advisory Services Inc. now owns 52,098 shares of the transportation company’s stock valued at $1,509,000 after buying an additional 4,504 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Delta Air Lines by 10.9% during the second quarter. Treasurer of the State of North Carolina now owns 270,839 shares of the transportation company’s stock valued at $7,846,000 after buying an additional 26,535 shares during the period. Institutional investors own 66.47% of the company’s stock.
Insider Transactions at Delta Air Lines
In related news, EVP Joanne D. Smith sold 2,000 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $34.19, for a total transaction of $68,380.00. Following the completion of the sale, the executive vice president now directly owns 111,153 shares in the company, valued at approximately $3,800,321.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.84% of the company’s stock.
Delta Air Lines Trading Up 3.6 %
Delta Air Lines (NYSE:DAL – Get Rating) last announced its quarterly earnings data on Thursday, October 13th. The transportation company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.05). The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $13.62 billion. Delta Air Lines had a return on equity of 32.62% and a net margin of 0.18%. The company’s revenue was up 52.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 3.08 earnings per share for the current year.
Analyst Upgrades and Downgrades
DAL has been the subject of a number of analyst reports. TheStreet upgraded shares of Delta Air Lines from a “d+” rating to a “c-” rating in a research report on Tuesday, September 20th. Raymond James boosted their price objective on shares of Delta Air Lines from $50.00 to $52.00 in a research note on Tuesday, October 4th. Argus raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, January 5th. Cowen raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a research note on Friday, October 14th. Finally, The Goldman Sachs Group started coverage on shares of Delta Air Lines in a research note on Friday, December 16th. They set a “buy” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Delta Air Lines presently has an average rating of “Buy” and a consensus price target of $48.74.
Delta Air Lines Profile
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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