Sit Investment Associates Inc. Trims Position in Delta Air Lines, Inc. (DAL)

Sit Investment Associates Inc. lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 23.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 370,150 shares of the transportation company’s stock after selling 113,240 shares during the quarter. Sit Investment Associates Inc.’s holdings in Delta Air Lines were worth $18,470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DAL. Moody National Bank Trust Division boosted its position in Delta Air Lines by 6.9% during the fourth quarter. Moody National Bank Trust Division now owns 6,757 shares of the transportation company’s stock worth $337,000 after purchasing an additional 435 shares during the period. Csenge Advisory Group bought a new position in Delta Air Lines during the third quarter worth about $42,000. Pineno Levin & Ford Asset Management Inc. boosted its position in Delta Air Lines by 1.8% during the third quarter. Pineno Levin & Ford Asset Management Inc. now owns 52,163 shares of the transportation company’s stock worth $3,017,000 after purchasing an additional 930 shares during the period. Telemus Capital LLC boosted its position in Delta Air Lines by 14.0% during the third quarter. Telemus Capital LLC now owns 8,140 shares of the transportation company’s stock worth $471,000 after purchasing an additional 1,000 shares during the period. Finally, Trust Investment Advisors boosted its position in Delta Air Lines by 3.9% during the third quarter. Trust Investment Advisors now owns 26,435 shares of the transportation company’s stock worth $1,529,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 87.59% of the company’s stock.

A number of equities analysts have recently commented on DAL shares. Deutsche Bank upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and raised their price objective for the company from $53.00 to $60.00 in a research report on Wednesday, October 17th. Bank of America cut their price objective on shares of Delta Air Lines from $67.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, October 10th. Buckingham Research cut their price objective on shares of Delta Air Lines from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, October 10th. Macquarie set a $69.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Monday, October 8th. Finally, Morgan Stanley set a $65.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Friday, October 5th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $67.46.

In other Delta Air Lines news, CEO Edward H. Bastian sold 60,000 shares of Delta Air Lines stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $50.00, for a total transaction of $3,000,000.00. Following the transaction, the chief executive officer now directly owns 326,943 shares of the company’s stock, valued at $16,347,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George N. Mattson purchased 4,000 shares of the firm’s stock in a transaction on Monday, December 17th. The shares were acquired at an average cost of $52.87 per share, for a total transaction of $211,480.00. Following the completion of the purchase, the director now directly owns 72,530 shares of the company’s stock, valued at approximately $3,834,661.10. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

DAL traded down $0.89 on Monday, reaching $47.67. The company had a trading volume of 346,477 shares, compared to its average volume of 9,895,146. The company has a market capitalization of $33.23 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.50 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.37 and a quick ratio of 0.31. Delta Air Lines, Inc. has a 52-week low of $45.08 and a 52-week high of $61.32.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, October 11th. The transportation company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.06. The business had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.96 billion. Delta Air Lines had a net margin of 7.87% and a return on equity of 27.72%. During the same period last year, the firm posted $1.57 earnings per share. On average, equities analysts anticipate that Delta Air Lines, Inc. will post 5.56 earnings per share for the current year.

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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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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