CCM Investment Advisers LLC Trims Stake in Delta Air Lines, Inc. (NYSE:DAL)

CCM Investment Advisers LLC cut its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,710 shares of the transportation company’s stock after selling 36,964 shares during the quarter. Delta Air Lines makes up about 1.7% of CCM Investment Advisers LLC’s holdings, making the stock its 24th biggest holding. CCM Investment Advisers LLC’s holdings in Delta Air Lines were worth $15,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Delta Air Lines by 2.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 85,891 shares of the transportation company’s stock valued at $5,196,000 after acquiring an additional 1,791 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Delta Air Lines by 73.4% in the 4th quarter. Fortitude Family Office LLC now owns 659 shares of the transportation company’s stock worth $40,000 after acquiring an additional 279 shares during the last quarter. First Hawaiian Bank grew its stake in shares of Delta Air Lines by 32.1% during the fourth quarter. First Hawaiian Bank now owns 25,422 shares of the transportation company’s stock valued at $1,538,000 after buying an additional 6,172 shares during the last quarter. Fulton Bank N.A. purchased a new stake in Delta Air Lines in the fourth quarter worth $382,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Delta Air Lines during the fourth quarter valued at approximately $571,000. Institutional investors own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DAL shares. TD Cowen lifted their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. UBS Group reissued a “buy” rating and set a $88.00 price target on shares of Delta Air Lines in a research report on Tuesday, November 26th. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Jefferies Financial Group raised their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Citigroup lifted their price objective on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Delta Air Lines has an average rating of “Buy” and a consensus price target of $77.06.

Insider Buying and Selling at Delta Air Lines

In related news, SVP William C. Carroll sold 21,530 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the sale, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This represents a 52.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven M. Sear sold 10,279 shares of Delta Air Lines stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $58.72, for a total transaction of $603,582.88. Following the completion of the sale, the executive vice president now owns 78,459 shares of the company’s stock, valued at $4,607,112.48. This represents a 11.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,809 shares of company stock worth $7,871,765. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Stock Performance

DAL stock traded up $5.48 during midday trading on Friday, hitting $66.90. The company’s stock had a trading volume of 17,812,242 shares, compared to its average volume of 10,490,457. The stock has a market cap of $43.17 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.21 and a beta of 1.35. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 1 year low of $36.34 and a 1 year high of $68.99. The stock’s 50-day moving average price is $62.10 and its 200 day moving average price is $51.73.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.20 billion. During the same period last year, the business earned $1.28 earnings per share. Delta Air Lines’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that Delta Air Lines, Inc. will post 6.08 EPS for the current year.

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