Allspring Global Investments Holdings LLC Trims Position in Delta Air Lines, Inc. (NYSE:DAL)

Allspring Global Investments Holdings LLC cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DALGet Rating) by 59.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,993 shares of the transportation company’s stock after selling 115,136 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Delta Air Lines were worth $2,187,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Diversified Trust Co grew its stake in shares of Delta Air Lines by 118.5% during the 2nd quarter. Diversified Trust Co now owns 16,490 shares of the transportation company’s stock worth $478,000 after purchasing an additional 8,942 shares during the period. National Bank of Canada FI grew 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 worth $287,000 after purchasing an additional 686 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of 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 worth $1,509,000 after purchasing an additional 4,504 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Delta Air Lines by 10.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 270,839 shares of the transportation company’s stock worth $7,846,000 after purchasing an additional 26,535 shares during the period. Finally, Bristol John W & Co. Inc. NY grew its stake in shares of Delta Air Lines by 28,236.7% during the 2nd quarter. Bristol John W & Co. Inc. NY now owns 2,084,165 shares of the transportation company’s stock worth $60,378,000 after purchasing an additional 2,076,810 shares during the period. 66.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Joanne D. Smith sold 2,000 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $34.19, for a total transaction of $68,380.00. Following the transaction, the executive vice president now owns 111,153 shares of the company’s stock, valued at approximately $3,800,321.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Joanne D. Smith sold 2,000 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $34.19, for a total transaction of $68,380.00. Following the transaction, the executive vice president now owns 111,153 shares of the company’s stock, valued at approximately $3,800,321.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP William C. Carroll sold 15,529 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $38.20, for a total transaction of $593,207.80. Following the completion of the transaction, the senior vice president now directly owns 16,780 shares in the company, valued at approximately $640,996. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Delta Air Lines Trading Down 0.1 %

Shares of DAL stock opened at $38.35 on Friday. The company’s 50-day moving average price is $34.83 and its 200-day moving average price is $32.88. The company has a current ratio of 0.50, a quick ratio of 0.45 and a debt-to-equity ratio of 3.20. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 18.80 and a beta of 1.20. Delta Air Lines, Inc. has a twelve month low of $27.20 and a twelve month high of $46.27.

Analysts Set New Price Targets

A number of research firms recently issued reports on DAL. Barclays lifted their price target on shares of Delta Air Lines from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Cowen raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Friday, October 14th. Bank of America lifted their price target on shares of Delta Air Lines from $40.00 to $43.00 in a research note on Tuesday, January 10th. Argus raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Thursday, January 5th. Finally, Jefferies Financial Group lifted their price target on shares of Delta Air Lines from $40.00 to $45.00 in a research note on Wednesday, January 11th. Seventeen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $49.44.

Delta Air Lines Company Profile

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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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