CENTRAL TRUST Co boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 12.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,278 shares of the transportation company’s stock after buying an additional 1,945 shares during the period. CENTRAL TRUST Co’s holdings in Delta Air Lines were worth $929,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Patten Group Inc. increased its stake in Delta Air Lines by 0.3% in the first quarter. Patten Group Inc. now owns 9,307 shares of the transportation company’s stock valued at $420,000 after buying an additional 30 shares during the period. Wetherby Asset Management Inc. increased its stake in Delta Air Lines by 0.8% in the first quarter. Wetherby Asset Management Inc. now owns 6,020 shares of the transportation company’s stock valued at $277,000 after buying an additional 49 shares during the period. Independent Advisor Alliance increased its stake in Delta Air Lines by 0.8% in the first quarter. Independent Advisor Alliance now owns 8,254 shares of the transportation company’s stock valued at $372,000 after buying an additional 64 shares during the period. Banced Corp increased its stake in Delta Air Lines by 1.2% in the second quarter. Banced Corp now owns 7,895 shares of the transportation company’s stock valued at $425,000 after buying an additional 96 shares during the period. Finally, M Holdings Securities Inc. increased its stake in Delta Air Lines by 1.4% in the fourth quarter. M Holdings Securities Inc. now owns 7,718 shares of the transportation company’s stock valued at $380,000 after buying an additional 103 shares during the period. 87.88% of the stock is owned by institutional investors.
Shares of Delta Air Lines, Inc. (NYSE:DAL) remained flat at $47.53 on Friday. 8,395,102 shares of the company were exchanged. The company has a 50-day moving average price of $51.80 and a 200-day moving average price of $49.44. Delta Air Lines, Inc. has a 1-year low of $35.90 and a 1-year high of $55.75. The stock has a market cap of $34.60 billion, a P/E ratio of 9.42 and a beta of 1.20. Delta Air Lines also saw some unusual options trading on Wednesday. Stock traders purchased 20,043 call options on the company. This represents an increase of approximately 109% compared to the average daily volume of 9,579 call options.
Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Zacks’ 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 net margin of 9.30% and a return on equity of 28.33%. Delta Air Lines’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.47 EPS. Equities analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be issued a $0.305 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio is presently 16.10%.
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Several research firms recently weighed in on DAL. Wolfe Research upgraded Delta Air Lines from a “market perform” rating to an “outperform” rating in a report on Friday. They noted that the move was a valuation call. Morgan Stanley decreased their price objective on Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday. BidaskClub upgraded Delta Air Lines from a “sell” rating to a “hold” rating in a report on Wednesday. Cowen and Company restated a “buy” rating and issued a $66.00 price objective on shares of Delta Air Lines in a report on Monday, August 14th. Finally, Barclays PLC started coverage on Delta Air Lines in a report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Delta Air Lines presently has an average rating of “Buy” and an average target price of $60.56.
In related news, COO W Gilbert West sold 26,131 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $50.47, for a total transaction of $1,318,831.57. Following the completion of the sale, the chief operating officer now directly owns 89,232 shares in the company, valued at $4,503,539.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joanne D. Smith sold 3,700 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total value of $199,800.00. Following the sale, the executive vice president now owns 77,223 shares of the company’s stock, valued at $4,170,042. The disclosure for this sale can be found here. In the last 90 days, insiders bought 389,000 shares of company stock valued at $31,120 and sold 126,831 shares valued at $6,703,732. 0.37% of the stock is owned by corporate insiders.
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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