Cannell Peter B & Co. Inc. Has $68.24 Million Position in Delta Air Lines, Inc. (DAL)

Cannell Peter B & Co. Inc. decreased its position in Delta Air Lines, Inc. (NYSE:DAL) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,179,975 shares of the transportation company’s stock after selling 134,530 shares during the period. Delta Air Lines makes up about 2.4% of Cannell Peter B & Co. Inc.’s portfolio, making the stock its 7th biggest holding. Cannell Peter B & Co. Inc. owned about 0.17% of Delta Air Lines worth $68,238,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in Delta Air Lines by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 2,777,558 shares of the transportation company’s stock worth $152,238,000 after purchasing an additional 62,427 shares during the period. DnB Asset Management AS grew its position in shares of Delta Air Lines by 6.7% during the 2nd quarter. DnB Asset Management AS now owns 20,681 shares of the transportation company’s stock valued at $1,025,000 after acquiring an additional 1,300 shares during the period. Clinton Group Inc. grew its position in shares of Delta Air Lines by 47.2% during the 2nd quarter. Clinton Group Inc. now owns 15,904 shares of the transportation company’s stock valued at $788,000 after acquiring an additional 5,102 shares during the period. IFM Investors Pty Ltd grew its position in shares of Delta Air Lines by 52.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 8,484 shares of the transportation company’s stock valued at $420,000 after acquiring an additional 2,913 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Delta Air Lines by 43.7% during the 2nd quarter. CENTRAL TRUST Co now owns 35,242 shares of the transportation company’s stock valued at $1,746,000 after acquiring an additional 10,725 shares during the period. Institutional investors own 88.09% of the company’s stock.

DAL stock opened at $56.79 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.37. Delta Air Lines, Inc. has a 12-month low of $48.33 and a 12-month high of $60.79. The stock has a market capitalization of $38.03 billion, a P/E ratio of 10.53, a PEG ratio of 0.64 and a beta of 0.94.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 11th. The transportation company reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.06. Delta Air Lines had a return on equity of 27.72% and a net margin of 7.87%. The company had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.96 billion. During the same period in the previous year, the firm posted $1.57 EPS. As a group, analysts expect that Delta Air Lines, Inc. will post 5.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Wednesday, November 7th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, November 6th. Delta Air Lines’s payout ratio is 28.40%.

In related news, EVP Joanne D. Smith sold 4,353 shares of Delta Air Lines stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $57.50, for a total value of $250,297.50. Following the sale, the executive vice president now directly owns 90,972 shares in the company, valued at approximately $5,230,890. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $55.00, for a total value of $1,925,000.00. Following the completion of the sale, the chief executive officer now owns 266,943 shares in the company, valued at $14,681,865. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,353 shares of company stock worth $2,350,708. 0.33% of the stock is currently owned by insiders.

A number of equities research analysts have recently commented on DAL shares. Stephens restated a “buy” rating and set a $68.00 target price on shares of Delta Air Lines in a research report on Monday, October 1st. Morgan Stanley set a $65.00 target price on Delta Air Lines and gave the company a “buy” rating in a research report on Friday, October 5th. ValuEngine upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Citigroup dropped their target price on Delta Air Lines from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, October 3rd. Finally, Buckingham Research raised their target price on Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.99.

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

Read More: Earnings Per Share

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

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