State of Alaska Department of Revenue Purchases 95,879 Shares of Delta Air Lines, Inc. (NYSE:DAL)

State of Alaska Department of Revenue increased its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 84.5% during the third quarter, HoldingsChannel reports. The fund owned 209,310 shares of the transportation company’s stock after buying an additional 95,879 shares during the quarter. State of Alaska Department of Revenue’s holdings in Delta Air Lines were worth $12,055,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its holdings in Delta Air Lines by 3,507.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,338,652 shares of the transportation company’s stock worth $189,469,000 after buying an additional 3,246,105 shares during the period. AQR Capital Management LLC raised its stake in Delta Air Lines by 207.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,075,433 shares of the transportation company’s stock worth $117,781,000 after buying an additional 1,400,082 shares during the period. Holocene Advisors LP raised its stake in Delta Air Lines by 346.4% during the 2nd quarter. Holocene Advisors LP now owns 1,141,994 shares of the transportation company’s stock worth $64,808,000 after buying an additional 886,164 shares during the period. Janus Henderson Group PLC raised its stake in Delta Air Lines by 27.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,946,432 shares of the transportation company’s stock worth $223,961,000 after buying an additional 850,291 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in Delta Air Lines by 15.0% during the 1st quarter. Neuberger Berman Group LLC now owns 6,124,500 shares of the transportation company’s stock worth $316,331,000 after buying an additional 798,959 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shares of DAL stock traded up $0.80 during trading on Friday, hitting $53.63. The company’s stock had a trading volume of 3,562,972 shares, compared to its average volume of 5,465,965. The company has a market cap of $37.07 billion, a PE ratio of 9.49, a P/E/G ratio of 0.47 and a beta of 1.16. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $57.83 and a 200-day moving average of $57.03. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $63.44.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.07. The company had revenue of $12.54 billion during the quarter, compared to analyst estimates of $12.49 billion. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. Delta Air Lines’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. As a group, research analysts predict that Delta Air Lines, Inc. will post 7.1 EPS for the current year.

In other Delta Air Lines news, President Glen W. Hauenstein sold 50,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $63.03, for a total transaction of $3,151,500.00. Following the completion of the transaction, the president now directly owns 267,526 shares of the company’s stock, valued at $16,862,163.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rahul D. Samant sold 16,559 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $61.87, for a total value of $1,024,505.33. Following the transaction, the executive vice president now directly owns 51,039 shares of the company’s stock, valued at $3,157,782.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,285 shares of company stock valued at $5,219,381. 0.47% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on the company. Wolfe Research set a $69.00 price target on Delta Air Lines and gave the stock a “buy” rating in a research note on Friday, July 12th. Buckingham Research lowered Delta Air Lines from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $74.00 to $58.00 in a report on Thursday. Berenberg Bank initiated coverage on Delta Air Lines in a report on Friday, September 6th. They set a “buy” rating and a $72.00 price objective for the company. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Friday, September 6th. Finally, Deutsche Bank boosted their price objective on Delta Air Lines from $56.00 to $61.00 and gave the stock a “hold” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $67.47.

About Delta Air Lines

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 and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

Further Reading: Momentum Indicators

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

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