Johnson Investment Counsel Inc. cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 38.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,960 shares of the transportation company’s stock after selling 5,637 shares during the period. Johnson Investment Counsel Inc.’s holdings in Delta Air Lines were worth $251,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new position in Delta Air Lines during the second quarter valued at $49,000. Campbell Wealth Management acquired a new position in Delta Air Lines during the second quarter valued at $25,000. Bedel Financial Consulting Inc. raised its position in Delta Air Lines by 143.6% during the second quarter. Bedel Financial Consulting Inc. now owns 899 shares of the transportation company’s stock valued at $25,000 after buying an additional 530 shares during the period. Sandy Spring Bank acquired a new position in Delta Air Lines during the second quarter valued at $25,000. Finally, Bourgeon Capital Management LLC raised its position in Delta Air Lines by 400.0% during the second quarter. Bourgeon Capital Management LLC now owns 1,000 shares of the transportation company’s stock valued at $28,000 after buying an additional 800 shares during the period. 58.31% of the stock is currently owned by institutional investors.
In related news, CFO Paul A. Jacobson sold 25,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $31.70, for a total transaction of $792,500.00. Also, EVP Steven M. Sear sold 14,127 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $28.98, for a total transaction of $409,400.46. Following the transaction, the executive vice president now directly owns 83,938 shares in the company, valued at approximately $2,432,523.24. The disclosure for this sale can be found here. Insiders have sold 57,127 shares of company stock worth $1,723,900 in the last ninety days. 0.63% of the stock is currently owned by insiders.
Several research firms recently weighed in on DAL. TheStreet lowered Delta Air Lines from a “c” rating to a “d” rating in a research report on Tuesday, July 14th. Citigroup upped their target price on Delta Air Lines from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Cowen assumed coverage on Delta Air Lines in a research report on Friday, May 29th. They issued a “buy” rating and a $33.00 target price on the stock. Zacks Investment Research raised Delta Air Lines from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a research report on Wednesday, June 24th. Finally, Berenberg Bank lowered Delta Air Lines from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a research report on Wednesday. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Delta Air Lines presently has a consensus rating of “Hold” and an average target price of $48.00.
Shares of NYSE:DAL opened at $31.77 on Friday. The company has a market cap of $19.91 billion, a price-to-earnings ratio of -5.45 and a beta of 1.32. The business has a 50 day moving average price of $27.88 and a 200 day moving average price of $29.83. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 2.23. Delta Air Lines, Inc. has a twelve month low of $17.51 and a twelve month high of $62.48.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Tuesday, July 14th. The transportation company reported ($4.43) EPS for the quarter, missing analysts’ consensus estimates of ($4.24) by ($0.19). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.40 billion. Delta Air Lines had a negative return on equity of 4.02% and a negative net margin of 10.74%. The firm’s quarterly revenue was down 88.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.35 earnings per share. Analysts anticipate that Delta Air Lines, Inc. will post -9.48 EPS for the current year.
About Delta Air Lines
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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
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