E&G Advisors LP Cuts Position in Delta Air Lines, Inc. (NYSE:DAL)

E&G Advisors LP decreased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,300 shares of the transportation company’s stock after selling 300 shares during the quarter. E&G Advisors LP’s holdings in Delta Air Lines were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pzena Investment Management LLC acquired a new position in Delta Air Lines during the 3rd quarter worth $281,206,000. Castle Hook Partners LP bought a new position in Delta Air Lines in the 3rd quarter valued at about $189,296,000. Sanders Capital LLC increased its stake in Delta Air Lines by 2.8% during the 3rd quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock valued at $1,414,074,000 after buying an additional 749,099 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Delta Air Lines by 419.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock worth $28,551,000 after buying an additional 453,926 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Delta Air Lines by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company’s stock worth $789,452,000 after acquiring an additional 416,338 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In related news, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the completion of the sale, the executive vice president now owns 58,897 shares in the company, valued at $3,688,130.14. This represents a 11.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the transaction, the chief executive officer now directly owns 439,819 shares in the company, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,150 shares of company stock valued at $8,735,936. Insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Shares of DAL stock opened at $66.55 on Tuesday. The company has a market capitalization of $42.94 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.78 and a beta of 1.35. Delta Air Lines, Inc. has a 1-year low of $37.29 and a 1-year high of $69.98. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The stock’s fifty day simple moving average is $63.59 and its 200-day simple moving average is $54.09.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on DAL. Bank of America boosted their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. TD Cowen boosted their price objective on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Barclays lifted 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. Susquehanna upped their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. Finally, Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $78.22.

Delta Air Lines 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.