Artemis Investment Management LLP Buys 342,120 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Artemis Investment Management LLP raised its stake in Delta Air Lines, Inc. (NYSE:DAL) by 164.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 550,120 shares of the transportation company’s stock after buying an additional 342,120 shares during the quarter. Artemis Investment Management LLP owned about 0.08% of Delta Air Lines worth $31,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Northern Trust Corp lifted its position in shares of Delta Air Lines by 0.7% in the second quarter. Northern Trust Corp now owns 6,403,999 shares of the transportation company’s stock worth $363,428,000 after purchasing an additional 42,077 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Delta Air Lines by 15.3% in the second quarter. UBS Asset Management Americas Inc. now owns 4,348,254 shares of the transportation company’s stock valued at $246,763,000 after acquiring an additional 577,994 shares during the period. APG Asset Management N.V. boosted its position in shares of Delta Air Lines by 6.1% in the second quarter. APG Asset Management N.V. now owns 4,056,503 shares of the transportation company’s stock valued at $202,148,000 after acquiring an additional 231,800 shares during the period. Janus Henderson Group PLC boosted its position in shares of Delta Air Lines by 27.5% in the second quarter. Janus Henderson Group PLC now owns 3,946,432 shares of the transportation company’s stock valued at $223,961,000 after acquiring an additional 850,291 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of Delta Air Lines by 3,507.5% in the second quarter. Nuveen Asset Management LLC now owns 3,338,652 shares of the transportation company’s stock valued at $189,469,000 after acquiring an additional 3,246,105 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP William C. Carroll sold 6,384 shares of Delta Air Lines stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $61.96, for a total value of $395,552.64. Following the transaction, the senior vice president now directly owns 23,010 shares in the company, valued at approximately $1,425,699.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Glen W. Hauenstein sold 50,000 shares of Delta Air Lines stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total value of $3,151,500.00. Following the completion of the transaction, the president now owns 267,526 shares in the company, valued at $16,862,163.78. The disclosure for this sale can be found here. Insiders have sold a total of 83,285 shares of company stock valued at $5,219,381 over the last three months. 0.47% of the stock is owned by corporate insiders.

Shares of DAL stock traded down $1.50 on Thursday, reaching $52.42. 16,486,461 shares of the company’s stock were exchanged, compared to its average volume of 6,614,583. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $63.44. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $34.69 billion, a PE ratio of 9.28, a P/E/G ratio of 0.48 and a beta of 1.16. The company’s fifty day simple moving average is $57.34 and its 200 day simple moving average is $57.13.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $2.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.06. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The firm had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.61 billion. During the same period last year, the company earned $1.80 EPS. Delta Air Lines’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Delta Air Lines, Inc. will post 7.07 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on DAL. Berenberg Bank began coverage on shares of Delta Air Lines in a research report on Friday, September 6th. They issued a “buy” rating and a $72.00 target price for the company. Wolfe Research set a $69.00 target price on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Friday, July 12th. Cowen reduced their target price on shares of Delta Air Lines from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Credit Suisse Group cut their price objective on shares of Delta Air Lines from $72.00 to $71.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Finally, ValuEngine cut Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Delta Air Lines has a consensus rating of “Buy” and a consensus price target of $67.13.

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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