Delta Air Lines, Inc. (DAL) Stake Lifted by Moors & Cabot Inc.
Moors & Cabot Inc. lifted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 22.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,978 shares of the transportation company’s stock after purchasing an additional 1,634 shares during the period. Moors & Cabot Inc.’s holdings in Delta Air Lines were worth $460,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Bank grew its stake in Delta Air Lines by 141.3% in the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock valued at $25,000 after buying an additional 284 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Delta Air Lines during the 1st quarter worth approximately $26,000. Northwest Wealth Management LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth approximately $26,000. Paragon Capital Management LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth approximately $26,000. Finally, Kistler Tiffany Companies LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth approximately $26,000. Institutional investors own 91.60% of the company’s stock.
DAL has been the topic of a number of analyst reports. Citigroup increased their target price on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Buckingham Research increased their target price on shares of Delta Air Lines from $62.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus increased their target price on shares of Delta Air Lines from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Zacks Investment Research upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Friday, April 5th. Finally, Stephens set a $63.00 price target on shares of Delta Air Lines and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.09.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.06. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. The company had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, research analysts forecast that Delta Air Lines, Inc. will post 6.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, May 1st. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.78%.
In related news, major shareholder Berkshire Hathaway Inc acquired 2,345,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average price of $49.37 per share, with a total value of $115,776,451.49. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 30,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the completion of the transaction, the chief executive officer now directly owns 354,191 shares of the company’s stock, valued at approximately $20,365,982.50. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,554,538 shares of company stock valued at $175,828,075 and sold 145,901 shares valued at $8,125,848. 0.47% of the stock is owned by corporate insiders.
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About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
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