Summit Financial Group Inc. acquired a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,156 shares of the transportation company’s stock, valued at approximately $277,000.
Other institutional investors have also recently made changes to their positions in the company. Global X Management Co. LLC raised its position in shares of Delta Air Lines by 5.6% in the second quarter. Global X Management Co. LLC now owns 33,681 shares of the transportation company’s stock valued at $1,810,000 after buying an additional 1,775 shares during the period. HL Financial Services LLC raised its position in shares of Delta Air Lines by 8.4% in the second quarter. HL Financial Services LLC now owns 70,020 shares of the transportation company’s stock valued at $3,763,000 after buying an additional 5,433 shares during the period. BP PLC purchased a new position in shares of Delta Air Lines during the second quarter valued at $1,182,000. Advisor Partners LLC raised its position in shares of Delta Air Lines by 17.2% in the second quarter. Advisor Partners LLC now owns 13,399 shares of the transportation company’s stock valued at $720,000 after buying an additional 1,965 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Delta Air Lines during the second quarter valued at $1,344,000. 87.88% of the stock is owned by institutional investors and hedge funds.
Shares of Delta Air Lines, Inc. (NYSE DAL) remained flat at $47.53 during midday trading on Friday. The company’s stock had a trading volume of 8,395,102 shares. The company has a 50-day moving average of $51.80 and a 200 day moving average of $49.44. Delta Air Lines, Inc. has a 12-month low of $35.90 and a 12-month high of $55.75. The firm has a market cap of $34.60 billion, a price-to-earnings ratio of 9.42 and a beta of 1.20. Delta Air Lines also was the target of some unusual options trading activity on Wednesday. Stock traders bought 20,043 call options on the stock. This is an increase of approximately 109% compared to the average daily volume of 9,579 call options.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Monday, August 21st. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio is 16.10%.
Several equities analysts have weighed in on the company. Wolfe Research raised Delta Air Lines from a “market perform” rating to an “outperform” rating in a report on Friday. They noted that the move was a valuation call. Morgan Stanley reduced their price objective on Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday. BidaskClub raised Delta Air Lines from a “sell” rating to a “hold” rating in a report on Wednesday. Cowen and Company reissued a “buy” rating and set a $66.00 price objective on shares of Delta Air Lines in a report on Monday, August 14th. Finally, Barclays PLC assumed coverage on Delta Air Lines in a report on Thursday, August 10th. They set an “overweight” rating and a $70.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Delta Air Lines presently has a consensus rating of “Buy” and a consensus price target of $60.56.
In other news, 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 sale, the chief executive officer now directly owns 285,508 shares in the company, valued at approximately $13,861,413.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.26, for a total transaction of $276,300.00. Following the sale, the vice president now owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. In the last three months, insiders have acquired 389,000 shares of company stock valued at $31,120 and have sold 126,831 shares valued at $6,703,732. 0.37% of the stock is owned by corporate insiders.
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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