Connective Portfolio Management LLC Takes $908,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Connective Portfolio Management LLC purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,000 shares of the transportation company's stock, valued at approximately $908,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Delta Air Lines in the 3rd quarter worth approximately $25,000. Modus Advisors LLC purchased a new position in Delta Air Lines in the fourth quarter worth $33,000. Versant Capital Management Inc grew its stake in 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 purchasing an additional 539 shares during the period. Ashton Thomas Securities LLC bought a new position in Delta Air Lines in the 3rd quarter valued at $31,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Delta Air Lines during the 2nd quarter worth $31,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Edward H. Bastian sold 68,000 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the transaction, the chief executive officer now directly owns 439,819 shares in the company, valued at $24,775,004.27. This trade represents a 13.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction on Friday, November 8th. The stock was sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the transaction, the senior vice president now directly owns 19,756 shares in the company, valued at approximately $1,197,608.72. The trade was a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,319 shares of company stock valued at $6,794,748. 0.96% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DAL shares. BNP Paribas upgraded shares of Delta Air Lines to a "strong-buy" rating in a research report on Thursday, September 19th. The Goldman Sachs Group restated a "buy" rating and set a $83.00 price target on shares of Delta Air Lines in a research note on Friday, November 15th. Citigroup increased their price objective on Delta Air Lines from $65.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. TD Cowen boosted their target price on Delta Air Lines from $78.00 to $90.00 and gave the company a "buy" rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Delta Air Lines from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $78.22.

Delta Air Lines Price Performance

NYSE:DAL traded up $0.84 during midday trading on Thursday, hitting $66.34. The company had a trading volume of 3,489,738 shares, compared to its average volume of 10,432,253. The company has a market capitalization of $42.81 billion, a PE ratio of 12.44, a P/E/G ratio of 1.05 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 $36.69 and a 52-week high of $68.99. The stock's fifty day moving average price is $62.59 and its 200-day moving average price is $52.15.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.09. The firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.20 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. As a group, research analysts expect that Delta Air Lines, Inc. will post 7.35 earnings per share for the current year.

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.