Ameriprise Financial Inc. boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 705,891 shares of the transportation company’s stock after purchasing an additional 16,269 shares during the quarter. Ameriprise Financial Inc. owned about 0.10% of Delta Air Lines worth $34,001,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Sound Shore Management Inc. CT purchased a new position in shares of Delta Air Lines during the second quarter valued at approximately $158,224,000. TIAA CREF Investment Management LLC boosted its position in shares of Delta Air Lines by 77.6% during the second quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock valued at $288,312,000 after buying an additional 2,343,531 shares during the last quarter. PointState Capital LP purchased a new position in shares of Delta Air Lines during the second quarter valued at approximately $106,866,000. Parametric Portfolio Associates LLC boosted its position in shares of Delta Air Lines by 140.9% during the second quarter. Parametric Portfolio Associates LLC now owns 2,414,031 shares of the transportation company’s stock valued at $129,730,000 after buying an additional 1,412,117 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Delta Air Lines by 121.3% during the second quarter. Principal Financial Group Inc. now owns 2,479,478 shares of the transportation company’s stock valued at $133,247,000 after buying an additional 1,358,817 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.
In other Delta Air Lines news, insider Steven M. Sear sold 6,898 shares of the company’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $53.01, for a total value of $365,662.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Peter W. Carter sold 19,809 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $50.42, for a total value of $998,769.78. Following the completion of the transaction, the executive vice president now owns 67,077 shares in the company, valued at $3,382,022.34. The disclosure for this sale can be found here. Insiders sold a total of 239,810 shares of company stock worth $12,684,903 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The company had revenue of $11.06 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the company posted $1.70 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. research analysts anticipate that Delta Air Lines, Inc. will post 5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.22 dividend on an annualized basis and a yield of 2.34%. Delta Air Lines’s dividend payout ratio is currently 24.50%.
Several research analysts recently issued reports on the company. Barclays assumed coverage on Delta Air Lines in a research report on Thursday, August 10th. They set an “overweight” rating and a $70.00 target price on the stock. Vetr cut Delta Air Lines from a “sell” rating to a “strong sell” rating and set a $45.16 price objective on the stock. in a research report on Wednesday, November 29th. ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Friday. Wolfe Research raised Delta Air Lines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $63.00 price objective (down previously from $67.00) on shares of Delta Air Lines in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $63.39.
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Delta Air Lines 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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