Econ Financial Services Corp Makes New $236,000 Investment in Delta Air Lines, Inc. (NYSE:DAL)

Econ Financial Services Corp bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,898 shares of the transportation company’s stock, valued at approximately $236,000.

Other hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC acquired a new stake in Delta Air Lines during the third quarter worth approximately $281,206,000. Castle Hook Partners LP acquired a new stake in shares of Delta Air Lines during the 3rd quarter worth $189,296,000. Sanders Capital LLC increased its position in shares of Delta Air Lines by 2.8% in the third quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock worth $1,414,074,000 after purchasing an additional 749,099 shares during the period. Janney Montgomery Scott LLC raised its stake in Delta Air Lines by 419.5% in the third quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock valued at $28,551,000 after purchasing an additional 453,926 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in Delta Air Lines by 325.7% during the fourth quarter. Retirement Systems of Alabama now owns 592,808 shares of the transportation company’s stock worth $35,865,000 after purchasing an additional 453,547 shares during the period. 69.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DAL shares. Citigroup raised their target price on shares of Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group reissued a “buy” rating and issued a $88.00 price objective on shares of Delta Air Lines in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upped their target price on Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. TD Cowen lifted their price target on Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and a consensus target price of $78.22.

Delta Air Lines Trading Up 3.9 %

DAL opened at $69.10 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. Delta Air Lines, Inc. has a fifty-two week low of $37.29 and a fifty-two week high of $69.98. The company’s 50 day moving average price is $63.73 and its two-hundred day moving average price is $54.41. The firm has a market capitalization of $44.59 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.78 and a beta of 1.36.

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

Insider Transactions at Delta Air Lines

In related news, SVP William C. Carroll sold 8,400 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the sale, the senior vice president now owns 19,756 shares in the company, valued at $1,304,291.12. This represents a 29.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,423 shares of company stock worth $8,712,931 over the last ninety days. 0.96% of the stock is owned by 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 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.