Grove Bank & Trust Buys 5,025 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Grove Bank & Trust increased its holdings in Delta Air Lines by 30.8% during the 2nd quarter, bringing their total shares to 21,342, valued at approximately $1,050,000.
• Delta Air Lines has received multiple target price upgrades from various analysts, with Jefferies raising it from $56.00 to $62.00 and Seaport Global increasing theirs from $69.00 to $80.00, affirming a consensus rating of "Moderate Buy."
• Insider transactions included Director Michael P. Huerta selling 2,500 shares worth $151,750, marking a 6.99% decrease in his holdings, while EVP Alain Bellemare sold 45,423 shares valued at over $2.5 million.

Grove Bank & Trust increased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 30.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,342 shares of the transportation company's stock after buying an additional 5,025 shares during the quarter. Grove Bank & Trust's holdings in Delta Air Lines were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of DAL. Brighton Jones LLC grew its holdings in shares of Delta Air Lines by 33.5% during the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock valued at $555,000 after buying an additional 2,302 shares in the last quarter. Lazard Asset Management LLC grew its stake in Delta Air Lines by 14.9% in the fourth quarter. Lazard Asset Management LLC now owns 8,087 shares of the transportation company's stock valued at $489,000 after purchasing an additional 1,050 shares in the last quarter. Twinbeech Capital LP purchased a new position in Delta Air Lines in the fourth quarter valued at about $780,000. Woodline Partners LP grew its stake in Delta Air Lines by 65.2% in the fourth quarter. Woodline Partners LP now owns 234,362 shares of the transportation company's stock valued at $14,179,000 after purchasing an additional 92,502 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. purchased a new position in Delta Air Lines in the fourth quarter valued at about $205,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Analyst Upgrades and Downgrades

DAL has been the topic of a number of recent research reports. BNP Paribas Exane boosted their target price on Delta Air Lines from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Wolfe Research boosted their target price on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Jefferies Financial Group boosted their target price on Delta Air Lines from $56.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, July 14th. UBS Group set a $72.00 target price on Delta Air Lines in a research note on Friday, July 11th. Finally, Susquehanna set a $65.00 price target on Delta Air Lines and gave the stock a "positive" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $66.56.

Delta Air Lines Stock Performance

Shares of NYSE DAL traded up $0.46 during trading hours on Tuesday, hitting $59.35. 1,728,389 shares of the company's stock were exchanged, compared to its average volume of 10,327,088. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. The stock has a market capitalization of $38.75 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 1.82 and a beta of 1.51. The company's 50-day moving average price is $57.95 and its 200-day moving average price is $50.58.

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

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the completion of the transaction, the executive vice president owned 97,505 shares of the company's stock, valued at $5,456,379.80. This represents a 15.58% decrease in their position. 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 the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the transaction, the chief executive officer directly owned 632,823 shares of the company's stock, valued at approximately $35,615,278.44. This trade represents a 5.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,473 shares of company stock worth $7,663,496. 0.96% of the stock is currently owned by company 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.