CCM Investment Advisers LLC Purchases 19,727 Shares of Delta Air Lines, Inc. $DAL

Key Points

• CCM Investment Advisers LLC increased its stake in Delta Air Lines by 8.1%, purchasing an additional 19,727 shares during the second quarter, bringing its total to 261,837 shares valued at approximately $12.9 million.
• Several institutional investors, including Waycross Partners LLC and Lederer & Associates, made significant moves in Delta's stock, contributing to institutional ownership now at 69.93% of the company's shares.
• Wall Street analysts are optimistic about Delta Air Lines, raising price targets with a consensus target of $66.56 and multiple "Buy" ratings indicating a positive outlook on the stock's potential growth.

CCM Investment Advisers LLC lifted its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,837 shares of the transportation company's stock after purchasing an additional 19,727 shares during the quarter. CCM Investment Advisers LLC's holdings in Delta Air Lines were worth $12,877,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Waycross Partners LLC bought a new position in Delta Air Lines during the second quarter worth about $18,811,000. Kwmg LLC increased its holdings in shares of Delta Air Lines by 5.7% in the second quarter. Kwmg LLC now owns 119,087 shares of the transportation company's stock worth $5,857,000 after acquiring an additional 6,369 shares in the last quarter. Lederer & Associates Investment Counsel CA raised its position in shares of Delta Air Lines by 52.5% during the second quarter. Lederer & Associates Investment Counsel CA now owns 26,788 shares of the transportation company's stock worth $1,317,000 after purchasing an additional 9,217 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Delta Air Lines by 63.4% during the 2nd quarter. GAMMA Investing LLC now owns 15,666 shares of the transportation company's stock valued at $770,000 after purchasing an additional 6,081 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. acquired a new position in shares of Delta Air Lines in the 2nd quarter valued at approximately $223,000. Institutional investors and hedge funds own 69.93% of the company's stock.

Insider Buying and Selling

In related news, EVP Alain Bellemare sold 45,423 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the completion of the transaction, the executive vice president directly owned 131,731 shares of the company's stock, valued at approximately $7,318,974.36. This trade represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward H. Bastian sold 35,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the transaction, the chief executive officer owned 632,823 shares in the company, valued at approximately $35,615,278.44. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,473 shares of company stock worth $7,663,496 in the last quarter. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DAL shares. Wolfe Research lifted their price target on shares of Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Morgan Stanley boosted their price objective on shares of Delta Air Lines from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Delta Air Lines from $53.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. HSBC lifted their price target on Delta Air Lines from $64.00 to $69.20 in a research note on Friday, July 11th. Finally, TD Cowen upped their price objective on Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $66.56.

Delta Air Lines Trading Down 0.3%

Delta Air Lines stock opened at $58.73 on Wednesday. The company has a market cap of $38.35 billion, a price-to-earnings ratio of 8.51, a P/E/G ratio of 1.80 and a beta of 1.51. The firm has a 50-day moving average of $58.01 and a 200-day moving average of $50.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The business had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. During the same quarter in the prior year, the company posted $2.36 earnings per share. Delta Air Lines's revenue was down .1% on a year-over-year basis. On average, equities analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

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.

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