Great Lakes Advisors LLC bought a new position in Delta Air Lines, Inc. (NYSE:DAL – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 162,155 shares of the transportation company’s stock, valued at approximately $7,709,000.
Other institutional investors have also recently modified their holdings of the company. Candriam Luxembourg S.C.A. bought a new stake in Delta Air Lines in the 1st quarter worth about $502,000. Coppell Advisory Solutions Corp. bought a new stake in Delta Air Lines in the 4th quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in Delta Air Lines in the 2nd quarter worth about $44,000. Financial Management Professionals Inc. increased its holdings in Delta Air Lines by 3,355.6% in the 2nd quarter. Financial Management Professionals Inc. now owns 933 shares of the transportation company’s stock worth $44,000 after buying an additional 906 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Delta Air Lines in the 2nd quarter worth about $47,000. 71.29% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Delta Air Lines from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, October 13th. Citigroup reduced their price objective on Delta Air Lines from $64.00 to $56.00 in a report on Wednesday, October 4th. Raymond James cut their price target on Delta Air Lines from $58.00 to $54.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 5th. Susquehanna cut their price target on Delta Air Lines from $60.00 to $44.00 and set a “positive” rating for the company in a research note on Wednesday, October 11th. Finally, Sanford C. Bernstein cut their price target on Delta Air Lines from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Tuesday, September 26th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $54.40.
Insider Transactions at Delta Air Lines
In other news, Director David S. Taylor bought 10,000 shares of the stock in a transaction dated Friday, October 27th. The stock was purchased at an average price of $30.75 per share, for a total transaction of $307,500.00. Following the acquisition, the director now owns 27,470 shares of the company’s stock, valued at $844,702.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Joanne D. Smith sold 3,030 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $33.29, for a total value of $100,868.70. Following the completion of the sale, the executive vice president now owns 95,362 shares in the company, valued at approximately $3,174,600.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Taylor bought 10,000 shares of the stock in a transaction dated Friday, October 27th. The stock was purchased at an average price of $30.75 per share, with a total value of $307,500.00. Following the acquisition, the director now directly owns 27,470 shares in the company, valued at approximately $844,702.50. The disclosure for this purchase can be found here. Company insiders own 0.89% of the company’s stock.
Delta Air Lines Price Performance
DAL stock opened at $36.06 on Friday. Delta Air Lines, Inc. has a 52 week low of $30.60 and a 52 week high of $49.81. The company has a quick ratio of 0.39, a current ratio of 0.44 and a debt-to-equity ratio of 1.90. The company has a fifty day simple moving average of $35.29 and a two-hundred day simple moving average of $39.59. The firm has a market capitalization of $23.20 billion, a P/E ratio of 6.83, a price-to-earnings-growth ratio of 0.18 and a beta of 1.36.
Delta Air Lines (NYSE:DAL – Get Free Report) last released its quarterly earnings data on Thursday, October 12th. The transportation company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.95 by $0.08. Delta Air Lines had a net margin of 5.94% and a return on equity of 54.95%. The business had revenue of $15.49 billion during the quarter, compared to analyst estimates of $14.55 billion. During the same quarter last year, the business earned $1.51 earnings per share. Delta Air Lines’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that Delta Air Lines, Inc. will post 6.1 earnings per share for the current fiscal year.
Delta Air Lines Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Thursday, October 12th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, October 11th. This represents a $0.40 annualized dividend and a yield of 1.11%. Delta Air Lines’s dividend payout ratio (DPR) is currently 7.58%.
About Delta Air Lines
Delta Air Lines, Inc engages in the provision of scheduled air transportation for passengers and cargo. It operates through the Airline and Refinery segments. The Airline segment provides scheduled air transportation for passengers and cargo. The Refinery segment provides jet fuel to the airline segment.
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