3,700 Shares in Delta Air Lines, Inc. (NYSE:DAL) Acquired by Hedges Asset Management LLC

Hedges Asset Management LLC acquired a new stake in Delta Air Lines, Inc. (NYSE:DAL) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,700 shares of the transportation company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanders Capital LLC increased its stake in shares of Delta Air Lines by 2.8% in the third quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock worth $1,414,074,000 after acquiring an additional 749,099 shares during the last quarter. Geode Capital Management LLC increased its position in Delta Air Lines by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company’s stock worth $789,452,000 after purchasing an additional 416,338 shares during the last quarter. Pzena Investment Management LLC purchased a new stake in shares of Delta Air Lines during the 3rd quarter worth about $281,206,000. Castle Hook Partners LP purchased a new stake in shares of Delta Air Lines during the 3rd quarter worth about $189,296,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Delta Air Lines by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,497,487 shares of the transportation company’s stock valued at $177,637,000 after buying an additional 10,332 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In related news, CEO Edward H. Bastian sold 91,710 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $30,721,357.15. This represents a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of Delta Air Lines stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the sale, the executive vice president now owns 58,897 shares in the company, valued at $3,688,130.14. This represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 217,429 shares of company stock worth $13,755,259. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Down 0.5 %

Shares of DAL stock opened at $67.41 on Friday. Delta Air Lines, Inc. has a 12 month low of $37.29 and a 12 month high of $69.98. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The firm has a market cap of $43.50 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The stock has a 50 day moving average of $63.06 and a 200-day moving average of $52.94.

Delta Air Lines (NYSE:DAL) last released its earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.76 by $0.09. The firm had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.43%. During the same period in the prior year, the company earned $1.28 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Delta Air Lines, Inc. will post 7.67 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on DAL. UBS Group restated a “buy” rating and issued a $88.00 price objective on shares of Delta Air Lines in a report on Tuesday, November 26th. Jefferies Financial Group increased their price target on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Susquehanna boosted their price target on Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a research report on Tuesday, January 7th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $78.22.

Delta Air Lines Company 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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.