Rhumbline Advisers lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,147,566 shares of the transportation company’s stock after selling 3,022 shares during the period. Rhumbline Advisers owned 0.18% of Delta Air Lines worth $59,272,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fagan Associates Inc. bought a new position in Delta Air Lines during the 1st quarter worth $2,804,000. Biegel & Waller LLC raised its position in shares of Delta Air Lines by 4.8% in the 1st quarter. Biegel & Waller LLC now owns 161,032 shares of the transportation company’s stock worth $8,317,000 after acquiring an additional 7,330 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of Delta Air Lines by 144.5% in the 1st quarter. Moors & Cabot Inc. now owns 17,956 shares of the transportation company’s stock worth $920,000 after acquiring an additional 10,612 shares in the last quarter. Harwood Advisory Group LLC bought a new position in shares of Delta Air Lines in the 1st quarter worth about $269,000. Finally, Bridges Investment Management Inc. grew its stake in shares of Delta Air Lines by 3,229.2% in the 1st quarter. Bridges Investment Management Inc. now owns 197,122 shares of the transportation company’s stock valued at $10,181,000 after buying an additional 191,201 shares during the period. Institutional investors own 87.42% of the company’s stock.
Shares of NYSE:DAL traded down $0.67 during mid-day trading on Wednesday, reaching $53.21. The company had a trading volume of 3,924,308 shares, compared to its average volume of 3,717,953. 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 one year low of $45.08 and a one year high of $61.32. The stock has a market capitalization of $34.91 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, April 10th. The transportation company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $10.47 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.74 EPS. Research analysts predict that Delta Air Lines, Inc. will post 6.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 2nd were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.63%. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.78%.
In other news, Director Michael P. Huerta sold 1,010 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $54.33, for a total transaction of $54,873.30. Following the completion of the transaction, the director now directly owns 5,670 shares in the company, valued at approximately $308,051.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter W. Carter sold 25,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now owns 85,295 shares of the company’s stock, valued at $4,947,962.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 3,554,538 shares of company stock valued at $175,828,075 and have sold 97,475 shares valued at $5,638,975. 0.47% of the stock is owned by insiders.
Several analysts have recently commented on DAL shares. Stephens set a $63.00 target price on Delta Air Lines and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus raised their target price on Delta Air Lines from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Zacks Investment Research downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Deutsche Bank downgraded Delta Air Lines from a “buy” rating to a “hold” rating and set a $49.58 price target for the company. in a research note on Friday, March 1st. Finally, Buckingham Research lifted their price target on Delta Air Lines from $62.00 to $71.00 and gave the company 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 assigned a buy rating to the company. Delta Air Lines presently has an average rating of “Buy” and an average target price of $65.56.
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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