Pictet Asset Management Ltd. Decreases Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Pictet Asset Management Ltd. lessened its position in Delta Air Lines, Inc. (NYSE:DAL) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 125,351 shares of the transportation company’s stock after selling 9,600 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Delta Air Lines were worth $7,114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glassman Wealth Services lifted its position in Delta Air Lines by 1,153.5% during the first quarter. Glassman Wealth Services now owns 539 shares of the transportation company’s stock worth $28,000 after buying an additional 496 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in Delta Air Lines by 105.6% during the second quarter. Carroll Financial Associates Inc. now owns 623 shares of the transportation company’s stock worth $35,000 after buying an additional 320 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in Delta Air Lines by 36.0% during the second quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock worth $35,000 after buying an additional 164 shares in the last quarter. Avestar Capital LLC lifted its position in Delta Air Lines by 3,385.0% during the second quarter. Avestar Capital LLC now owns 697 shares of the transportation company’s stock worth $37,000 after buying an additional 677 shares in the last quarter. Finally, TCG Advisors LP purchased a new position in Delta Air Lines during the first quarter worth approximately $48,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

In other news, President Glen W. Hauenstein sold 50,000 shares of Delta Air Lines stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $63.03, for a total value of $3,151,500.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William C. Carroll sold 6,384 shares of Delta Air Lines stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $61.96, for a total value of $395,552.64. Following the completion of the sale, the senior vice president now directly owns 23,010 shares of the company’s stock, valued at $1,425,699.60. The disclosure for this sale can be found here. Insiders sold 83,285 shares of company stock valued at $5,219,381 over the last ninety days. Insiders own 0.47% of the company’s stock.

Shares of NYSE DAL traded down $1.50 during trading on Monday, reaching $58.51. The stock had a trading volume of 370,692 shares, compared to its average volume of 4,431,301. Delta Air Lines, Inc. has a fifty-two week low of $45.08 and a fifty-two week high of $63.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. The business’s 50-day moving average price is $58.77 and its 200-day moving average price is $56.24. The company has a market cap of $38.65 billion, a P/E ratio of 10.35, a PEG ratio of 0.47 and a beta of 1.19.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.07. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The business had revenue of $12.54 billion during the quarter, compared to analysts’ expectations of $12.49 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Analysts forecast that Delta Air Lines, Inc. will post 7.07 EPS for the current fiscal year.

DAL has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Delta Air Lines from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. Deutsche Bank raised their target price on Delta Air Lines from $56.00 to $61.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Wolfe Research set a $69.00 target price on Delta Air Lines and gave the stock a “buy” rating in a research note on Friday, July 12th. Stephens reissued an “overweight” rating and set a $70.00 target price on shares of Delta Air Lines in a research note on Wednesday, July 3rd. Finally, Berenberg Bank initiated coverage on Delta Air Lines in a research note on Friday, September 6th. They set a “buy” rating and a $72.00 target price for the company. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.12.

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.

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

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