Delta Air Lines, Inc. (NYSE:DAL) Stake Raised by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. increased its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,280,787 shares of the transportation company’s stock after buying an additional 33,002 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.18% of Delta Air Lines worth $68,830,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DAL. GSA Capital Partners LLP purchased a new stake in Delta Air Lines during the fourth quarter worth about $269,000. Quadrature Capital Ltd purchased a new stake in Delta Air Lines during the fourth quarter worth about $716,000. Wealthfront Inc. purchased a new stake in Delta Air Lines during the fourth quarter worth about $544,000. 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 worth $380,000 after buying an additional 103 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Delta Air Lines by 22.6% in the fourth quarter. Teachers Advisors LLC now owns 1,377,648 shares of the transportation company’s stock worth $67,767,000 after buying an additional 253,661 shares in the last quarter. 87.88% of the stock is owned by institutional investors.

Delta Air Lines, Inc. (NYSE DAL) remained flat at $47.53 during trading on Friday. 8,393,502 shares of the company were exchanged. The company has a market cap of $34.60 billion, a PE ratio of 9.42 and a beta of 1.20. Delta Air Lines, Inc. has a 12-month low of $35.90 and a 12-month high of $55.75. The stock’s 50-day moving average price is $51.98 and its 200 day moving average price is $49.44. Delta Air Lines also saw some unusual options trading activity on Wednesday. Traders bought 20,043 call options on the company. This is an increase of 109% compared to the average daily volume of 9,579 call options.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the prior year, the company posted $1.47 earnings per share. Delta Air Lines’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current 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. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. 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%. Delta Air Lines’s dividend payout ratio is currently 16.10%.

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Several research firms recently issued reports on DAL. Bank of America Corporation lifted their price target 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. BidaskClub raised Delta Air Lines from a “sell” rating to a “hold” rating in a research note on Wednesday. Wolfe Research raised Delta Air Lines from a “market perform” rating to an “outperform” rating in a research note on Friday. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating on shares of Delta Air Lines in a research note on Friday, May 26th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $60.00 target price on shares of Delta Air Lines in a research note on Thursday, July 13th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Delta Air Lines presently has an average rating of “Buy” and an average price target of $60.56.

In related news, CEO Edward H. Bastian sold 25,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $48.55, for a total value of $1,213,750.00. Following the transaction, the chief executive officer now owns 285,508 shares in the company, valued at $13,861,413.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Glen W. Hauenstein sold 67,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $55.15, for a total value of $3,695,050.00. Following the completion of the transaction, the president now owns 239,418 shares in the company, valued at approximately $13,203,902.70. The disclosure for this sale can be found here. In the last quarter, insiders bought 389,000 shares of company stock worth $31,120 and sold 126,831 shares worth $6,703,732. 0.37% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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