Cannell Peter B Co Inc Lowers stake in Delta Air Lines (DAL)

Delta Air Lines (DAL) : Cannell Peter B Co Inc reduced its stake in Delta Air Lines by 2.53% during the most recent quarter end. The investment management company now holds a total of 1,204,040 shares of Delta Air Lines which is valued at $43,766,854 after selling 31,195 shares in Delta Air Lines , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Delta Air Lines makes up approximately 1.52% of Cannell Peter B Co Inc’s portfolio.

Other Hedge Funds, Including , Argent Trust Co boosted its stake in DAL in the latest quarter, The investment management firm added 290 additional shares and now holds a total of 8,795 shares of Delta Air Lines which is valued at $319,698. Delta Air Lines makes up approx 0.10% of Argent Trust Co’s portfolio. Massmutual Trust Co Fsbadv added DAL to its portfolio by purchasing 22 company shares during the most recent quarter which is valued at $800.Sandy Spring Bank reduced its stake in DAL by selling 50 shares or 11.09% in the most recent quarter. The Hedge Fund company now holds 401 shares of DAL which is valued at $15,013.Swiss National Bank boosted its stake in DAL in the latest quarter, The investment management firm added 34,900 additional shares and now holds a total of 545,707 shares of Delta Air Lines which is valued at $19,907,391. Delta Air Lines makes up approx 0.03% of Swiss National Bank’s portfolio.

Delta Air Lines opened for trading at $36.78 and hit $37.13 on the upside on Tuesday, eventually ending the session at $36.69, with a gain of 0.22% or 0.08 points. The heightened volatility saw the trading volume jump to 75,88,184 shares. Company has a market cap of $27,477 M.

On the company’s financial health, Delta Air Lines reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $1.42. The company had revenue of $10447.00 million for the quarter, compared to analysts expectations of $10479.70 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.27 EPS.

Many Wall Street Analysts have commented on Delta Air Lines. Imperial Capital Initiated Delta Air Lines on Aug 24, 2016 to “In-line”, Price Target of the shares are set at $41.Shares were Reiterated by Cowen on Jul 6, 2016 to “Outperform” and Lowered the Price Target to $ 55 from a previous price target of $60 .

Delta Air Lines Inc. (Delta) provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s route network is centered on a system of hub and international gateway airports that it operates in Amsterdam Atlanta Detroit Los Angeles Minneapolis-St. Paul New York-LaGuardia New York-JFK Paris-Charles de Gaulle Salt Lake City Seattle and Tokyo-Narita. The Company’s segments include its Airline segment and Refinery segment. The Company’s Airline segment provides scheduled air transportation for passengers and cargo and other ancillary airline services including maintenance and repair services for third-parties. Its Refinery segment provides jet fuel to the airline segment from its own production and through jet fuel obtained through agreements with third-parties.

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