First Midwest Bank Trust Division purchased a new position in Delta Air Lines, Inc. (NYSE:DAL) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,067 shares of the transportation company’s stock, valued at approximately $1,643,000.
A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after purchasing an additional 43,777,555 shares in the last quarter. Vanguard Group Inc. grew its stake in Delta Air Lines by 0.6% in the second quarter. Vanguard Group Inc. now owns 44,951,865 shares of the transportation company’s stock worth $2,415,714,000 after purchasing an additional 274,997 shares in the last quarter. Lansdowne Partners UK LLP grew its stake in Delta Air Lines by 7.3% in the first quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock worth $1,291,656,000 after purchasing an additional 1,918,036 shares in the last quarter. Primecap Management Co. CA grew its stake in Delta Air Lines by 9.3% in the first quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock worth $1,043,931,000 after purchasing an additional 1,930,614 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Delta Air Lines by 15.8% in the first quarter. AQR Capital Management LLC now owns 9,571,378 shares of the transportation company’s stock worth $439,900,000 after purchasing an additional 1,308,115 shares in the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
A number of brokerages have commented on DAL. Cowen and Company lifted their target price on Delta Air Lines from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, October 12th. Imperial Capital upgraded Delta Air Lines from an “in-line” rating to an “outperform” rating and set a $63.00 target price for the company in a research note on Thursday, October 12th. Morgan Stanley restated an “overweight” rating and issued a $57.00 target price (up from $56.00) on shares of Delta Air Lines in a research note on Wednesday, October 4th. UBS AG restated a “buy” rating and issued a $62.00 target price (down from $65.00) on shares of Delta Air Lines in a research note on Saturday, September 30th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $63.00 target price (down from $67.00) on shares of Delta Air Lines in a research note on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $63.84.
In other Delta Air Lines news, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $53.06, for a total transaction of $8,449,274.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George N. Mattson acquired 6,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were purchased at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the purchase, the director now directly owns 61,510 shares of the company’s stock, valued at approximately $2,795,014.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 35,000 shares of company stock worth $274,960 and have sold 200,001 shares worth $10,630,333. 0.37% of the stock is currently owned by corporate insiders.
Delta Air Lines, Inc. (NYSE DAL) traded down 0.69% during midday trading on Monday, hitting $50.21. The stock had a trading volume of 314,679 shares. The company has a market cap of $35.95 billion, a PE ratio of 10.09 and a beta of 1.25. The stock’s 50 day moving average price is $50.43 and its 200-day moving average price is $49.99. Delta Air Lines, Inc. has a 52 week low of $41.00 and a 52 week high of $55.75.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.04. The firm had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 earnings per share. Equities research analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.
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About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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