CIBC Asset Management Inc Grows Stake in Delta Air Lines, Inc. (NYSE:DAL)

CIBC Asset Management Inc grew its position in shares of Delta Air Lines, Inc. (NYSE:DALGet Rating) by 9.5% in the third quarter, Holdings Channel reports. The firm owned 86,280 shares of the transportation company’s stock after purchasing an additional 7,450 shares during the period. CIBC Asset Management Inc’s holdings in Delta Air Lines were worth $2,421,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Delta Air Lines during the 1st quarter worth $217,000. Panagora Asset Management Inc. lifted its holdings in shares of Delta Air Lines by 41.8% during the 1st quarter. Panagora Asset Management Inc. now owns 25,838 shares of the transportation company’s stock worth $1,022,000 after acquiring an additional 7,616 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of Delta Air Lines during the 1st quarter worth $243,000. Raymond James Trust N.A. lifted its holdings in shares of Delta Air Lines by 20.7% during the 1st quarter. Raymond James Trust N.A. now owns 9,918 shares of the transportation company’s stock worth $392,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Cibc World Market Inc. lifted its holdings in shares of Delta Air Lines by 3.1% during the 1st quarter. Cibc World Market Inc. now owns 29,508 shares of the transportation company’s stock worth $1,168,000 after acquiring an additional 891 shares during the last quarter. 66.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on DAL. Bank of America boosted their price target on shares of Delta Air Lines from $40.00 to $43.00 in a research note on Tuesday, January 10th. Citigroup boosted their price target on shares of Delta Air Lines from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Cowen raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a research note on Friday, October 14th. StockNews.com raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Monday, January 16th. Finally, Barclays boosted their price target on shares of Delta Air Lines from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Seventeen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Delta Air Lines has an average rating of “Buy” and an average target price of $49.44.

Insider Transactions at Delta Air Lines

In other news, EVP Joanne D. Smith sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $34.19, for a total value of $68,380.00. Following the transaction, the executive vice president now owns 111,153 shares in the company, valued at $3,800,321.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Francis S. Blake bought 12,880 shares of the company’s stock in a transaction dated Wednesday, January 18th. The shares were purchased at an average price of $38.58 per share, for a total transaction of $496,910.40. Following the completion of the purchase, the director now owns 93,795 shares in the company, valued at approximately $3,618,611.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joanne D. Smith sold 2,000 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $34.19, for a total transaction of $68,380.00. Following the transaction, the executive vice president now owns 111,153 shares in the company, valued at approximately $3,800,321.07. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Delta Air Lines Price Performance

Shares of DAL opened at $38.80 on Wednesday. The stock has a market cap of $24.88 billion, a PE ratio of 19.02 and a beta of 1.20. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.45 and a current ratio of 0.50. Delta Air Lines, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $46.27. The firm’s 50-day simple moving average is $35.07 and its two-hundred day simple moving average is $33.12.

Delta Air Lines (NYSE:DALGet Rating) last announced its quarterly earnings data on Friday, January 13th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.17. The business had revenue of $13.44 billion for the quarter, compared to analysts’ expectations of $13.03 billion. Delta Air Lines had a net margin of 2.61% and a return on equity of 46.01%. Analysts anticipate that Delta Air Lines, Inc. will post 5.22 earnings per share for the current fiscal year.

Delta Air Lines Company Profile

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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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.

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

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