Moors & Cabot Inc. lifted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,880 shares of the transportation company’s stock after buying an additional 302 shares during the period. Moors & Cabot Inc.’s holdings in Delta Air Lines were worth $316,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. State of Tennessee Treasury Department raised its stake in shares of Delta Air Lines by 78.0% during the 2nd quarter. State of Tennessee Treasury Department now owns 713,955 shares of the transportation company’s stock worth $38,368,000 after buying an additional 312,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Delta Air Lines by 57.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 116,036 shares of the transportation company’s stock worth $6,236,000 after buying an additional 42,150 shares in the last quarter. US Bancorp DE raised its stake in shares of Delta Air Lines by 15.1% during the 2nd quarter. US Bancorp DE now owns 1,381,854 shares of the transportation company’s stock worth $74,262,000 after buying an additional 181,027 shares in the last quarter. Wesbanco Bank Inc. raised its stake in shares of Delta Air Lines by 2.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 55,360 shares of the transportation company’s stock worth $2,975,000 after buying an additional 1,475 shares in the last quarter. Finally, Airain ltd raised its stake in shares of Delta Air Lines by 15.5% during the 2nd quarter. Airain ltd now owns 152,447 shares of the transportation company’s stock worth $8,193,000 after buying an additional 20,457 shares in the last quarter. 86.26% of the stock is owned by institutional investors and hedge funds.
Shares of Delta Air Lines, Inc. (NYSE:DAL) traded down 0.303% during midday trading on Thursday, reaching $52.909. The company’s stock had a trading volume of 1,060,081 shares. The stock has a market capitalization of $38.52 billion, a PE ratio of 10.487 and a beta of 1.24. The stock’s 50 day moving average is $48.52 and its 200 day moving average is $49.42. Delta Air Lines, Inc. has a 12 month low of $37.91 and a 12 month high of $55.75.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.04. The company had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 earnings per share. On average, analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd were issued a $0.305 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.22 annualized dividend and a dividend yield of 2.30%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio is currently 24.25%.
In other Delta Air Lines news, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction on 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 directly owns 7,437 shares of the company’s stock, valued at approximately $410,968.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George N. Mattson bought 6,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were purchased at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the purchase, the director now owns 61,510 shares in the company, valued at $2,795,014.40. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 76,000 shares of company stock worth $278,240 and sold 75,700 shares worth $4,171,150. 0.37% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on DAL. Cowen and Company increased their target price on Delta Air Lines from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday. Imperial Capital raised Delta Air Lines from an “in-line” rating to an “outperform” rating in a research note on Thursday. Morgan Stanley reissued an “overweight” rating and set a $57.00 target price (up from $56.00) on shares of Delta Air Lines in a research note on Wednesday, October 4th. UBS AG reissued a “buy” rating and set a $62.00 target price (down from $65.00) on shares of Delta Air Lines in a research note on Saturday, September 30th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $63.00 target price (down from $67.00) on shares of Delta Air Lines in a research note on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $62.15.
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About Delta Air Lines
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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