Patten Group Inc. boosted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,307 shares of the transportation company’s stock after buying an additional 30 shares during the period. Patten Group Inc.’s holdings in Delta Air Lines were worth $420,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $269,000. Quadrature Capital Ltd purchased a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $716,000. Wealthfront Inc. purchased a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $544,000. M Holdings Securities Inc. raised its position in shares of Delta Air Lines by 1.4% in the fourth quarter. M Holdings Securities Inc. now owns 7,718 shares of the transportation company’s stock valued at $380,000 after buying an additional 103 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Delta Air Lines by 22.6% in the fourth quarter. Teachers Advisors LLC now owns 1,377,648 shares of the transportation company’s stock valued at $67,767,000 after buying an additional 253,661 shares during the period. Hedge funds and other institutional investors own 87.65% of the company’s stock.
Delta Air Lines, Inc. (NYSE:DAL) traded up 0.90% during mid-day trading on Friday, hitting $49.48. The company’s stock had a trading volume of 6,318,866 shares. The company has a market cap of $36.02 billion, a P/E ratio of 9.81 and a beta of 1.20. The firm’s 50-day moving average is $52.40 and its 200-day moving average is $49.46. Delta Air Lines, Inc. has a 12-month low of $35.84 and a 12-month high of $55.75.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.66 by $0.02. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The company had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.305 per share. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Monday, August 21st. Delta Air Lines’s dividend payout ratio is presently 16.10%.
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DAL has been the topic of several recent research reports. Cowen and Company reiterated an “outperform” rating and set a $58.00 price objective on shares of Delta Air Lines in a research report on Monday, April 17th. Deutsche Bank AG increased their target price on Delta Air Lines from $56.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, April 18th. Vetr cut Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $52.43 target price for the company. in a report on Tuesday, May 2nd. Citigroup Inc. increased their target price on Delta Air Lines from $63.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 12th. Finally, Imperial Capital restated an “in-line” rating and set a $52.00 target price on shares of Delta Air Lines in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $60.74.
In other Delta Air Lines news, COO W Gilbert West sold 26,131 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $50.47, for a total value of $1,318,831.57. Following the sale, the chief operating officer now owns 89,232 shares of the company’s stock, valued at $4,503,539.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward H. Bastian sold 25,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $48.55, for a total transaction of $1,213,750.00. Following the completion of the sale, the chief executive officer now directly owns 285,508 shares in the company, valued at approximately $13,861,413.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 399,000 shares of company stock worth $31,920 and have sold 126,831 shares worth $6,703,732. Corporate insiders own 0.37% of the company’s stock.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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