Cannell & Co. Cuts Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Cannell & Co. trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 44.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 622,801 shares of the transportation company’s stock after selling 503,795 shares during the period. Cannell & Co. owned about 0.10% of Delta Air Lines worth $29,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DAL. Saltoro Capital LP purchased a new position in shares of Delta Air Lines in the second quarter worth $632,000. Canada Pension Plan Investment Board lifted its stake in Delta Air Lines by 33.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 389,511 shares of the transportation company’s stock worth $18,517,000 after purchasing an additional 97,600 shares in the last quarter. Lido Advisors LLC boosted its holdings in shares of Delta Air Lines by 7.8% during the 2nd quarter. Lido Advisors LLC now owns 67,224 shares of the transportation company’s stock valued at $3,196,000 after purchasing an additional 4,886 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Delta Air Lines by 3.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 112,092 shares of the transportation company’s stock valued at $5,329,000 after purchasing an additional 3,386 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Delta Air Lines by 9.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 350,261 shares of the transportation company’s stock worth $16,651,000 after purchasing an additional 29,827 shares during the last quarter. Institutional investors own 71.29% of the company’s stock.

Delta Air Lines Trading Up 3.1 %

Shares of NYSE DAL traded up $1.06 during midday trading on Tuesday, hitting $35.23. The company’s stock had a trading volume of 2,153,970 shares, compared to its average volume of 10,170,774. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $49.81. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 1.90. The firm has a market cap of $22.67 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 0.17 and a beta of 1.36. The business’s 50 day moving average is $35.75 and its two-hundred day moving average is $39.60.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, October 12th. The transportation company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.08. The business had revenue of $15.49 billion for the quarter, compared to analyst estimates of $14.55 billion. Delta Air Lines had a return on equity of 54.95% and a net margin of 5.94%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 earnings per share. As a group, equities research analysts expect that Delta Air Lines, Inc. will post 6.1 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Thursday, October 12th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, October 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. Delta Air Lines’s payout ratio is 7.58%.

Wall Street Analysts Forecast Growth

DAL has been the subject of a number of research reports. TheStreet lowered Delta Air Lines from a “b-” rating to a “c+” rating in a research note on Friday. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Sanford C. Bernstein decreased their price target on shares of Delta Air Lines from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 26th. Barclays dropped their price objective on shares of Delta Air Lines from $58.00 to $50.00 in a research note on Thursday, October 5th. Finally, Susquehanna decreased their target price on shares of Delta Air Lines from $60.00 to $44.00 and set a “positive” rating on the stock in a research report on Wednesday, October 11th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $54.40.

Insider Buying and Selling at Delta Air Lines

In other news, Director David S. Taylor acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were bought at an average price of $33.09 per share, with a total value of $330,900.00. Following the completion of the purchase, the director now directly owns 17,470 shares in the company, valued at $578,082.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David S. Taylor acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was purchased at an average cost of $33.09 per share, for a total transaction of $330,900.00. Following the completion of the acquisition, the director now directly owns 17,470 shares of the company’s stock, valued at approximately $578,082.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joanne D. Smith sold 9,390 shares of the stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $34.80, for a total transaction of $326,772.00. Following the transaction, the executive vice president now owns 98,392 shares in the company, valued at $3,424,041.60. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Delta Air Lines Company Profile

Delta Air Lines, Inc engages in the provision of scheduled air transportation for passengers and cargo. It operates through the Airline and Refinery segments. The Airline segment provides scheduled air transportation for passengers and cargo. The Refinery segment provides jet fuel to the airline segment.