Delta Air Lines, Inc. (DAL) Shares Sold by Veritable L.P.
Veritable L.P. lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,009 shares of the transportation company’s stock after selling 2,720 shares during the quarter. Veritable L.P.’s holdings in Delta Air Lines were worth $1,183,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Delta Air Lines by 2,951.4% in the 1st quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after purchasing an additional 43,777,555 shares during the period. Winslow Capital Management LLC boosted its holdings in shares of Delta Air Lines by 5,815,030.8% in the 1st quarter. Winslow Capital Management LLC now owns 4,535,802 shares of the transportation company’s stock worth $208,465,000 after purchasing an additional 4,535,724 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Delta Air Lines by 85.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock worth $323,542,000 after purchasing an additional 3,245,791 shares during the period. Sound Shore Management Inc. CT purchased a new position in shares of Delta Air Lines in the 2nd quarter worth approximately $158,224,000. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Delta Air Lines by 77.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock worth $288,312,000 after purchasing an additional 2,343,531 shares during the period. Institutional investors and hedge funds own 86.26% of the company’s stock.
A number of brokerages have recently commented on DAL. BidaskClub upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Vetr cut Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 target price for the company. in a report on Thursday, June 1st. Atlantic Securities began coverage on Delta Air Lines in a report on Tuesday, June 20th. They issued an “overweight” rating and a $68.00 target price for the company. Barclays PLC began coverage on Delta Air Lines in a report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 target price for the company. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Delta Air Lines in a report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $61.47.
Shares of Delta Air Lines, Inc. (NYSE DAL) opened at 47.91 on Thursday. The firm’s 50-day moving average price is $48.31 and its 200-day moving average price is $49.10. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 9.50 and a beta of 1.25. Delta Air Lines, Inc. has a 12 month low of $37.91 and a 12 month high of $55.75. Delta Air Lines also saw unusually large options trading on Monday. Stock investors acquired 8,778 put options on the stock. This represents an increase of 113% compared to the average daily volume of 4,113 put options.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data 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). The business had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 earnings per share. Equities research analysts expect that Delta Air Lines, Inc. will post $5.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd were given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.50%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 21st. Delta Air Lines’s dividend payout ratio is presently 24.25%.
In other news, EVP Joanne D. Smith sold 3,700 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total transaction of $199,800.00. Following the completion of the transaction, the executive vice president now directly owns 77,223 shares in the company, valued at $4,170,042. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director George N. Mattson purchased 6,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were purchased at an average price of $45.44 per share, with a total value of $272,640.00. Following the completion of the transaction, the director now owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 191,000 shares of company stock valued at $287,440 and sold 75,700 shares valued at $4,171,150. Corporate insiders own 0.37% of the company’s stock.
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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