Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by CCM Investment Advisers LLC

CCM Investment Advisers LLC lessened its stake in Delta Air Lines, Inc. (NYSE:DAL) by 12.4% in the 4th quarter, Holdings Channel reports. The firm owned 260,710 shares of the transportation company’s stock after selling 36,964 shares during the period. Delta Air Lines comprises about 1.7% of CCM Investment Advisers LLC’s portfolio, making the stock its 24th largest holding. CCM Investment Advisers LLC’s holdings in Delta Air Lines were worth $15,773,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DAL. Future Financial Wealth Managment LLC purchased a new position in Delta Air Lines during the 3rd quarter worth approximately $25,000. Kimelman & Baird LLC purchased a new position in shares of Delta Air Lines during the 2nd quarter worth approximately $31,000. Ashton Thomas Securities LLC acquired a new position in shares of Delta Air Lines in the third quarter valued at approximately $31,000. Modus Advisors LLC acquired a new stake in Delta Air Lines in the 4th quarter worth about $33,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Delta Air Lines in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Transactions at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the transaction, the senior vice president now directly owns 19,756 shares in the company, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the sale, the executive vice president now owns 121,961 shares of the company’s stock, valued at $6,739,564.86. This trade represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,809 shares of company stock worth $7,871,765. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a report on Friday, November 15th. Bank of America upped their target price on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. TD Cowen boosted their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines has an average rating of “Buy” and a consensus target price of $77.06.

Delta Air Lines Stock Performance

Shares of NYSE DAL traded up $5.48 during mid-day trading on Friday, hitting $66.90. The company had a trading volume of 17,812,242 shares, compared to its average volume of 10,490,457. Delta Air Lines, Inc. has a 1 year low of $36.34 and a 1 year high of $68.99. The stock’s 50-day moving average price is $62.10 and its 200-day moving average price is $51.73. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $43.17 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 1.21 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. Delta Air Lines’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 EPS. On average, sell-side analysts forecast that Delta Air Lines, Inc. will post 6.08 earnings per share for the current year.

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.