Edgestream Partners L.P. Sells 70,486 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Edgestream Partners L.P. reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 56.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,974 shares of the transportation company’s stock after selling 70,486 shares during the quarter. Edgestream Partners L.P.’s holdings in Delta Air Lines were worth $2,608,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DAL. Wellington Management Group LLP grew its stake in shares of Delta Air Lines by 220.2% during the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock valued at $346,008,000 after purchasing an additional 5,914,301 shares during the period. Capital International Investors lifted its position in shares of Delta Air Lines by 8.8% during the 4th quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock valued at $842,283,000 after buying an additional 1,689,053 shares in the last quarter. Norges Bank purchased a new position in shares of Delta Air Lines during the 4th quarter valued at about $65,056,000. Royal London Asset Management Ltd. lifted its position in shares of Delta Air Lines by 27.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after buying an additional 1,376,221 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Delta Air Lines during the 2nd quarter valued at about $60,217,000. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Trading Up 0.5 %

DAL opened at $46.93 on Thursday. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.86. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average of $42.25 and a 200 day moving average of $46.21. The firm has a market cap of $30.28 billion, a P/E ratio of 6.75, a P/E/G ratio of 0.89 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.45 billion. During the same period in the prior year, the firm posted $2.68 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that Delta Air Lines, Inc. will post 5.99 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on DAL. TD Cowen dropped their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Citigroup upped their target price on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Sanford C. Bernstein dropped their price objective on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. Finally, Jefferies Financial Group lowered their price target on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $61.52.

Insider Buying and Selling at Delta Air Lines

In related news, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were acquired at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.96% of the company’s stock.

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.