MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 127,669 Shares of Delta Air Lines, Inc. $DAL

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH has reduced its holdings in Delta Air Lines by 57.0%, now owning 96,237 shares valued at $4.73 million after selling 127,669 shares in the second quarter.
• Multiple institutional investors have modified their stakes in Delta, with Brighton Jones LLC increasing its investment by 33.5% and other firms acquiring notable positions during the fourth quarter.
• Analysts have generally positive views on Delta Air Lines, with price targets raised by Barclays, Seaport Global Securities, and Deutsche Bank, indicating a forecasted average target price of $66.56.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 57.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,237 shares of the transportation company's stock after selling 127,669 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Delta Air Lines were worth $4,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Delta Air Lines by 33.5% during the 4th quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock valued at $555,000 after purchasing an additional 2,302 shares in the last quarter. Ascent Group LLC bought a new stake in Delta Air Lines during the 4th quarter valued at about $229,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Delta Air Lines during the 4th quarter valued at about $283,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Delta Air Lines during the 4th quarter valued at about $16,733,000. Finally, Siemens Fonds Invest GmbH bought a new stake in Delta Air Lines during the 4th quarter valued at about $952,000. 69.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DAL has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Seaport Global Securities raised their price target on shares of Delta Air Lines from $69.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 11th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Delta Air Lines in a report on Friday, July 11th. Dbs Bank raised their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of "Moderate Buy" and a consensus target price of $66.56.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $57.71 on Thursday. 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 1-year low of $34.74 and a 1-year high of $69.98. The company has a market capitalization of $37.68 billion, a P/E ratio of 8.36, a P/E/G ratio of 1.79 and a beta of 1.51. The firm's 50 day simple moving average is $58.05 and its two-hundred day simple moving average is $50.68.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly 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 net margin of 7.24% and a return on equity of 24.86%. The business had revenue of $15.51 billion for the quarter, compared to the consensus estimate of $16.16 billion. During the same quarter in the previous year, the firm earned $2.36 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. Research analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Insider Activity

In other news, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the sale, the chief executive officer owned 632,823 shares in the company, valued at $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter W. Carter sold 17,550 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the sale, the executive vice president owned 191,442 shares in the company, valued at approximately $10,948,567.98. The trade was a 8.40% 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 valued at $7,663,496. Company insiders own 0.88% of the company's stock.

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.

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