Delta Air Lines, Inc. (DAL) Stake Lessened by Hennessy Advisors Inc.

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Hennessy Advisors Inc. decreased its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 3.2% during the 3rd quarter, Holdings Channel reports. The firm owned 55,200 shares of the transportation company’s stock after selling 1,800 shares during the quarter. Hennessy Advisors Inc.’s holdings in Delta Air Lines were worth $3,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. grew its position in Delta Air Lines by 5.7% during the 1st quarter. Franklin Resources Inc. now owns 64,574 shares of the transportation company’s stock worth $3,540,000 after acquiring an additional 3,478 shares during the last quarter. GSA Capital Partners LLP grew its position in Delta Air Lines by 245.4% during the 1st quarter. GSA Capital Partners LLP now owns 13,869 shares of the transportation company’s stock worth $760,000 after acquiring an additional 9,854 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Delta Air Lines by 16.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 54,537 shares of the transportation company’s stock worth $2,989,000 after acquiring an additional 7,806 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in Delta Air Lines during the 1st quarter worth $838,000. Finally, Blair William & Co. IL grew its position in Delta Air Lines by 16.2% during the 1st quarter. Blair William & Co. IL now owns 10,020 shares of the transportation company’s stock worth $549,000 after acquiring an additional 1,395 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

A number of equities research analysts recently weighed in on DAL shares. ValuEngine upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Stifel Nicolaus cut their target price on Delta Air Lines from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 13th. Stephens set a $65.00 target price on Delta Air Lines and gave the stock a “buy” rating in a report on Friday, July 13th. Cfra reaffirmed a “buy” rating and set a $70.00 target price on shares of Delta Air Lines in a report on Monday, June 18th. Finally, Buckingham Research lifted their target price on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Delta Air Lines presently has an average rating of “Buy” and an average price target of $67.36.

Shares of DAL opened at $52.05 on Friday. The stock has a market cap of $39.98 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 0.51 and a beta of 1.00. Delta Air Lines, Inc. has a 12 month low of $48.33 and a 12 month high of $60.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.31 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, October 11th. The transportation company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.06. The firm had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.96 billion. Delta Air Lines had a return on equity of 26.75% and a net margin of 7.72%. During the same period in the previous year, the business earned $1.57 EPS. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 5.6 EPS for the current year.

In other news, Director William H. Easter III sold 3,000 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $58.47, for a total value of $175,410.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $55.00, for a total value of $1,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 266,943 shares in the company, valued at $14,681,865. The disclosure for this sale can be found here. Insiders sold a total of 102,787 shares of company stock worth $5,519,226 over the last three months. 0.33% of the stock is owned by company insiders.

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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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

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