Connective Portfolio Management LLC Makes New $908,000 Investment in Delta Air Lines, Inc. (NYSE:DAL)

Connective Portfolio Management LLC purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,000 shares of the transportation company’s stock, valued at approximately $908,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines during the third quarter valued at about $25,000. Kimelman & Baird LLC bought a new stake in shares of Delta Air Lines during the second quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new stake in Delta Air Lines in the 3rd quarter worth approximately $31,000. Modus Advisors LLC purchased a new position in Delta Air Lines during the fourth quarter worth about $33,000. Finally, Versant Capital Management Inc raised its holdings in shares of Delta Air Lines by 829.2% in the 4th quarter. Versant Capital Management Inc now owns 604 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 539 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the completion of the sale, the executive vice president now directly owns 58,897 shares in the company, valued at $3,688,130.14. This represents a 11.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward H. Bastian sold 68,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $24,775,004.27. This trade represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,319 shares of company stock valued at $6,794,748. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Stock Down 1.3 %

DAL stock opened at $65.42 on Thursday. The stock has a market capitalization of $42.21 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 52 week low of $36.34 and a 52 week high of $68.99. The firm has a 50 day moving average of $62.59 and a 200 day moving average of $52.15.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.76 by $0.09. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Delta Air Lines, Inc. will post 6.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DAL. TD Cowen upped their target price on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. The Goldman Sachs Group reissued a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a research note on Friday, November 15th. Finally, Sanford C. Bernstein raised their price target on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $78.22.

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.