Brown Advisory Inc. Buys 806,389 Shares of Delta Air Lines, Inc. (DAL)
Brown Advisory Inc. lifted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 441.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 989,197 shares of the transportation company’s stock after purchasing an additional 806,389 shares during the period. Brown Advisory Inc. owned about 0.14% of Delta Air Lines worth $47,699,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in DAL. Mountain Capital Investment Advisors Inc purchased a new position in Delta Air Lines in the second quarter valued at $114,000. BB&T Investment Services Inc. purchased a new position in Delta Air Lines in the second quarter valued at $128,000. Bessemer Group Inc. boosted its holdings in Delta Air Lines by 104.3% in the second quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 1,298 shares during the period. Advisory Services Network LLC lifted its holdings in Delta Air Lines by 3.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after buying an additional 75 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in Delta Air Lines by 40.9% during the 2nd quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 85.22% of the company’s stock.
In other news, CEO Edward H. Bastian sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.79, for a total value of $1,055,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Sear sold 6,898 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $53.01, for a total value of $365,662.98. The disclosure for this sale can be found here. Insiders sold a total of 239,810 shares of company stock valued at $12,684,903 over the last three months. Company insiders own 0.37% of the company’s stock.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the business earned $1.70 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. analysts anticipate that Delta Air Lines, Inc. will post 5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, November 16th. Delta Air Lines’s payout ratio is currently 24.50%.
DAL has been the subject of a number of recent analyst reports. Deutsche Bank decreased their price target on Delta Air Lines from $62.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, September 6th. BidaskClub downgraded Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research raised Delta Air Lines from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Morgan Stanley reaffirmed an “overweight” rating on shares of Delta Air Lines in a report on Tuesday, September 12th. Finally, Cowen reaffirmed a “buy” rating and set a $60.00 price target on shares of Delta Air Lines in a report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $63.39.
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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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