First Citizens Bank & Trust Co. cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 23.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,748 shares of the transportation company’s stock after selling 15,130 shares during the period. First Citizens Bank & Trust Co.’s holdings in Delta Air Lines were worth $2,673,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FNY Managed Accounts LLC acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $100,000. Tompkins Financial Corp acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $107,000. TrimTabs Asset Management LLC increased its position in shares of Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock worth $111,000 after buying an additional 1,136 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock worth $127,000 after buying an additional 793 shares in the last quarter. 87.70% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines, Inc. (NYSE DAL) traded down 0.35% on Wednesday, hitting $50.96. 1,398,233 shares of the stock traded hands. The stock has a 50-day moving average of $53.18 and a 200-day moving average of $49.45. The firm has a market cap of $37.10 billion, a price-to-earnings ratio of 10.10 and a beta of 1.22. Delta Air Lines, Inc. has a 12-month low of $35.84 and a 12-month high of $55.75.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.66 by $0.02. The company had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.47 earnings per share. Analysts forecast that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.

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A number of brokerages have recently commented on DAL. Vetr raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 target price on the stock in a research note on Monday, May 8th. Imperial Capital reissued an “in-line” rating and issued a $52.00 target price on shares of Delta Air Lines in a research note on Friday, May 19th. BidaskClub raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Atlantic Securities began coverage on shares of Delta Air Lines in a research note on Tuesday, June 20th. They issued an “overweight” rating and a $68.00 target price on the stock. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Delta Air Lines in a research note on Friday, May 26th. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Delta Air Lines presently has a consensus rating of “Buy” and a consensus price target of $59.47.

In other Delta Air Lines news, CEO Edward H. Bastian sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $48.55, for a total transaction of $1,213,750.00. Following the sale, the chief executive officer now directly owns 285,508 shares in the company, valued at approximately $13,861,413.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joanne D. Smith sold 4,475 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $49.32, for a total transaction of $220,707.00. Following the sale, the executive vice president now owns 85,398 shares in the company, valued at $4,211,829.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 372,000 shares of company stock worth $29,760 and have sold 131,306 shares worth $6,924,439. Company insiders own 0.37% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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

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