Clinton Group Inc. Sells 48,218 Shares of Delta Air Lines, Inc. (DAL)
Clinton Group Inc. lessened its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 57.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,447 shares of the transportation company’s stock after selling 48,218 shares during the period. Clinton Group Inc.’s holdings in Delta Air Lines were worth $1,905,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in DAL. State of Tennessee Treasury Department raised its stake in Delta Air Lines by 78.0% during the second quarter. State of Tennessee Treasury Department now owns 713,955 shares of the transportation company’s stock worth $38,368,000 after acquiring an additional 312,863 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Delta Air Lines by 57.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 116,036 shares of the transportation company’s stock valued at $6,236,000 after acquiring an additional 42,150 shares during the period. US Bancorp DE boosted its stake in Delta Air Lines by 15.1% in the second quarter. US Bancorp DE now owns 1,381,854 shares of the transportation company’s stock valued at $74,262,000 after acquiring an additional 181,027 shares during the period. Hosking Partners LLP boosted its stake in Delta Air Lines by 10.0% in the first quarter. Hosking Partners LLP now owns 1,861,777 shares of the transportation company’s stock valued at $85,567,000 after acquiring an additional 169,097 shares during the period. Finally, Wesbanco Bank Inc. boosted its stake in Delta Air Lines by 2.7% in the second quarter. Wesbanco Bank Inc. now owns 55,360 shares of the transportation company’s stock valued at $2,975,000 after acquiring an additional 1,475 shares during the period. 86.26% of the stock is owned by institutional investors and hedge funds.
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In other news, Director George N. Mattson purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the acquisition, the director now directly owns 61,510 shares in the company, valued at $2,795,014.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joanne D. Smith sold 3,700 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total value of $199,800.00. Following the completion of the transaction, the executive vice president now owns 77,223 shares in the company, valued at approximately $4,170,042. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 141,000 shares of company stock worth $283,440 and have sold 75,700 shares worth $4,171,150. 0.37% of the stock is currently owned by corporate insiders.
A number of analysts have recently weighed in on DAL shares. Deutsche Bank AG dropped their price target on Delta Air Lines from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. Zacks Investment Research upgraded Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research report on Tuesday, July 4th. BidaskClub lowered Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Bank of America Corporation upped their price objective on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Finally, ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $61.58.
Shares of Delta Air Lines, Inc. (NYSE DAL) traded up 3.06% during trading on Tuesday, hitting $49.54. The stock had a trading volume of 2,150,535 shares. The stock has a market capitalization of $36.07 billion, a price-to-earnings ratio of 9.82 and a beta of 1.25. The stock’s 50 day moving average is $47.83 and its 200 day moving average is $49.15. Delta Air Lines, Inc. has a 52 week low of $37.91 and a 52 week high of $55.75.
Delta Air Lines (NYSE:DAL) last posted 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). Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the business posted $1.47 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.54%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, August 21st. Delta Air Lines’s dividend payout ratio is presently 24.25%.
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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