Janney Montgomery Scott LLC Has $9.22 Million Position in Delta Air Lines, Inc. (NYSE:DAL)

Janney Montgomery Scott LLC reduced its position in Delta Air Lines, Inc. (NYSE:DAL) by 72.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 152,361 shares of the transportation company’s stock after selling 409,768 shares during the period. Janney Montgomery Scott LLC’s holdings in Delta Air Lines were worth $9,218,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in Delta Air Lines in the third quarter valued at approximately $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines in the second quarter worth $31,000. Ashton Thomas Securities LLC acquired a new position in Delta Air Lines in the third quarter valued at about $31,000. Modus Advisors LLC bought a new stake in shares of Delta Air Lines in the fourth quarter worth about $33,000. Finally, Harbor Investment Advisory LLC raised its position in shares of Delta Air Lines by 217.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 555 shares of the transportation company’s stock worth $34,000 after purchasing an additional 380 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP William C. Carroll sold 8,400 shares of Delta Air Lines stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the completion of the transaction, the senior vice president now directly owns 19,756 shares in the company, valued at approximately $1,304,291.12. The trade was a 29.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,429 shares of company stock valued at $9,924,819 in the last quarter. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DAL shares. Susquehanna boosted their price objective on Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a report on Monday, January 13th. UBS Group restated a “buy” rating and set a $88.00 price objective on shares of Delta Air Lines in a report on Tuesday, November 26th. TD Cowen boosted their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Barclays increased their target price on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.22.

Delta Air Lines Stock Performance

DAL opened at $67.74 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The business’s 50-day simple moving average is $63.17 and its 200 day simple moving average is $53.27. The firm has a market capitalization of $43.71 billion, a PE ratio of 12.71, a PEG ratio of 0.79 and a beta of 1.35. Delta Air Lines, Inc. has a 52-week low of $37.29 and a 52-week high of $69.98.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.76 by $0.09. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. Delta Air Lines had a return on equity of 30.43% and a net margin of 5.61%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. As a group, sell-side analysts expect that Delta Air Lines, Inc. will post 7.67 earnings per share for the current fiscal year.

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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.