Cowen Prime Services LLC decreased its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 93.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,519 shares of the transportation company’s stock after selling 22,571 shares during the period. Cowen Prime Services LLC’s holdings in Delta Air Lines were worth $29,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Washington Trust Bank increased its stake in shares of Delta Air Lines by 141.3% in the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock worth $25,000 after purchasing an additional 284 shares in the last quarter. Kistler Tiffany Companies LLC purchased a new stake in shares of Delta Air Lines in the 1st quarter worth $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Delta Air Lines in the 1st quarter worth $26,000. Northwest Wealth Management LLC purchased a new stake in shares of Delta Air Lines in the 1st quarter worth $26,000. Finally, Paragon Capital Management LLC purchased a new stake in shares of Delta Air Lines in the 1st quarter worth $26,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.
Several equities research analysts have recently commented on DAL shares. Stephens set a $63.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Zacks Investment Research lowered Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Tuesday. Imperial Capital increased their price target on Delta Air Lines from $53.00 to $58.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. Raymond James increased their price target on Delta Air Lines from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Buckingham Research increased their price target on Delta Air Lines from $62.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $65.56.
In related news, major shareholder Berkshire Hathaway Inc bought 6,500 shares of Delta Air Lines stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $49.94 per share, with a total value of $324,610.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO W Gilbert West sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $51.51, for a total transaction of $1,854,360.00. Following the transaction, the chief operating officer now directly owns 100,799 shares in the company, valued at $5,192,156.49. The disclosure for this sale can be found here. In the last three months, insiders acquired 3,554,538 shares of company stock valued at $175,828,075 and sold 132,465 shares valued at $7,438,462. 0.47% of the stock is owned by company insiders.
Shares of NYSE:DAL traded down $0.77 during trading on Wednesday, reaching $54.06. The company’s stock had a trading volume of 3,518,145 shares, compared to its average volume of 7,210,898. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 12 month low of $45.08 and a 12 month high of $61.32. The company has a market cap of $35.91 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.66 and a beta of 1.13.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.06. The firm had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. During the same quarter last year, the firm earned $0.74 EPS. As a group, equities analysts forecast that Delta Air Lines, Inc. will post 6.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 2nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.59%. The ex-dividend date is Wednesday, May 1st. Delta Air Lines’s payout ratio is currently 24.78%.
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 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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