Essex Financial Services Inc. Makes New $230,000 Investment in Delta Air Lines, Inc. (NYSE:DAL)

Essex Financial Services Inc. bought a new position in Delta Air Lines, Inc. (NYSE:DAL) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,761 shares of the transportation company’s stock, valued at approximately $230,000.

Other large investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC increased its position in Delta Air Lines by 64.3% in the first quarter. West Oak Capital LLC now owns 575 shares of the transportation company’s stock worth $28,000 after buying an additional 225 shares during the last quarter. Lederer & Associates Investment Counsel CA purchased a new stake in Delta Air Lines in the first quarter worth $28,000. Reby Advisors LLC purchased a new stake in Delta Air Lines in the fourth quarter worth $25,000. Oder Investment Management LLC purchased a new stake in Delta Air Lines in the fourth quarter worth $25,000. Finally, South State CORP. purchased a new stake in Delta Air Lines in the fourth quarter worth $27,000. 63.92% of the stock is owned by institutional investors and hedge funds.

DAL stock opened at $46.28 on Friday. Delta Air Lines, Inc. has a fifty-two week low of $24.38 and a fifty-two week high of $52.28. The stock’s 50 day moving average price is $46.73. The company has a debt-to-equity ratio of 54.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $29.60 billion, a P/E ratio of -2.26 and a beta of 1.45.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Wednesday, April 14th. The transportation company reported ($3.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.73) by ($0.82). Delta Air Lines had a negative return on equity of 249.42% and a negative net margin of 102.96%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the company posted ($0.51) EPS. The firm’s revenue was down 60.4% on a year-over-year basis. Research analysts forecast that Delta Air Lines, Inc. will post -4.03 earnings per share for the current year.

Several equities analysts have recently weighed in on DAL shares. The Goldman Sachs Group lifted their price target on Delta Air Lines from $35.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, March 16th. Zacks Investment Research cut Delta Air Lines from a “hold” rating to a “sell” rating and set a $48.00 price target for the company. in a research report on Thursday, April 22nd. MKM Partners began coverage on Delta Air Lines in a research report on Thursday. They set a “buy” rating and a $59.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Delta Air Lines from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Monday, February 22nd. Finally, Morgan Stanley lifted their price target on Delta Air Lines from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.90.

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, London-Heathrow, Mexico City, 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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