Delta Air Lines, Inc. $DAL Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Delta Air Lines by 427.6% in Q2, holding 302,850 shares valued at approximately $14.89 million at the end of the reporting period.
• Delta Air Lines reported an earnings per share (EPS) of $2.10 for the last quarter, exceeding expectations, but its revenue of $15.51 billion fell short of analyst estimates.
• Several research firms have recently raised their price targets on Delta Air Lines, with a consensus target price now at $66.56 and a "Moderate Buy" consensus rating from analysts.

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 427.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,850 shares of the transportation company's stock after buying an additional 245,450 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Delta Air Lines were worth $14,894,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DAL. Wealth Preservation Advisors LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT purchased a new stake in shares of Delta Air Lines during the first quarter worth approximately $33,000. Continuum Advisory LLC increased its position in shares of Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after purchasing an additional 179 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of Delta Air Lines during the first quarter worth approximately $35,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Delta Air Lines during the first quarter worth approximately $40,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DAL has been the subject of several research reports. Deutsche Bank Aktiengesellschaft boosted their price target on Delta Air Lines from $53.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Susquehanna Bancshares upped their target price on Delta Air Lines from $51.00 to $65.00 and gave the company a "positive" rating in a report on Friday, July 11th. Sanford C. Bernstein restated an "outperform" rating on shares of Delta Air Lines in a report on Friday, July 11th. Raymond James Financial upped their target price on Delta Air Lines from $60.00 to $68.00 in a report on Friday, July 11th. Finally, Bernstein Bank upped their target price on Delta Air Lines from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.56.

Delta Air Lines Stock Performance

NYSE:DAL traded down $0.83 during mid-day trading on Monday, reaching $58.93. 7,106,332 shares of the stock were exchanged, compared to its average volume of 10,375,313. The company has a 50 day simple moving average of $57.94 and a 200-day simple moving average of $50.54. The stock has a market capitalization of $38.48 billion, a P/E ratio of 8.54, a P/E/G ratio of 1.82 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating 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 company had revenue of $15.51 billion for the quarter, compared to the consensus estimate of $16.16 billion. During the same period last year, the business posted $2.36 EPS. The company's revenue was down .1% on a year-over-year basis. Analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Alain Bellemare sold 45,423 shares of Delta Air Lines stock in a transaction on Friday, July 11th. The stock was sold at an average price of $55.56, for a total transaction 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. The trade was a 25.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the transaction, the chief executive officer directly owned 632,823 shares of the company's stock, valued at approximately $35,615,278.44. This represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,473 shares of company stock worth $7,663,496. Corporate insiders own 0.88% of the company's stock.

About Delta Air Lines

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.