RNC Capital Management LLC trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,403 shares of the transportation company’s stock after selling 433 shares during the period. RNC Capital Management LLC’s holdings in Delta Air Lines were worth $2,952,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. United Bank purchased a new stake in Delta Air Lines during the 2nd quarter worth approximately $203,000. Tudor Investment Corp Et Al acquired a new position in shares of Delta Air Lines in the 2nd quarter worth approximately $217,000. Captrust Financial Advisors boosted its position in Delta Air Lines by 43.5% during the 2nd quarter. Captrust Financial Advisors now owns 38,288 shares of the transportation company’s stock valued at $1,061,000 after purchasing an additional 11,599 shares during the period. Private Advisor Group LLC boosted its position in Delta Air Lines by 254.2% during the 2nd quarter. Private Advisor Group LLC now owns 100,799 shares of the transportation company’s stock valued at $2,287,000 after purchasing an additional 72,344 shares during the period. Finally, Cigna Investments Inc. New boosted its position in Delta Air Lines by 16.0% during the 2nd quarter. Cigna Investments Inc. New now owns 17,532 shares of the transportation company’s stock valued at $492,000 after purchasing an additional 2,413 shares during the period. Institutional investors own 55.53% of the company’s stock.
In related news, CEO Edward H. Bastian sold 65,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $33.58, for a total transaction of $2,182,700.00. Following the transaction, the chief executive officer now owns 341,060 shares of the company’s stock, valued at $11,452,794.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $35.84, for a total transaction of $4,480,000.00. Following the transaction, the chief financial officer now directly owns 303,478 shares in the company, valued at approximately $10,876,651.52. The disclosure for this sale can be found here. Insiders sold a total of 255,487 shares of company stock valued at $9,077,952 in the last quarter. 0.63% of the stock is currently owned by corporate insiders.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Sunday, October 18th. The transportation company reported ($3.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($3.10) by ($0.20). Delta Air Lines had a negative return on equity of 39.69% and a negative net margin of 42.88%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the firm posted $2.32 EPS. The firm’s quarterly revenue was down 75.6% on a year-over-year basis. On average, equities analysts forecast that Delta Air Lines, Inc. will post -10.6 earnings per share for the current year.
A number of research analysts recently issued reports on DAL shares. UBS Group reduced their price objective on Delta Air Lines from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft lowered Delta Air Lines from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a research report on Friday, December 11th. BNP Paribas started coverage on Delta Air Lines in a research report on Friday, November 13th. They set an “outperform” rating and a $54.00 price objective for the company. Cowen lowered Delta Air Lines from an “outperform” rating to a “market perform” rating and set a $44.00 price objective for the company. in a research report on Monday. Finally, Morgan Stanley reduced their price target on Delta Air Lines from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $45.75.
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, London-Heathrow, Mexico City, Paris-Charles de Gaulle, and Seoul-Incheon.
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