Patriot Wealth Management Inc. Acquires Shares of 90,778 Delta Air Lines, Inc. (DAL)

Patriot Wealth Management Inc. bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 90,778 shares of the transportation company’s stock, valued at approximately $4,878,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after buying an additional 43,777,555 shares during the period. Lansdowne Partners UK LLP raised its position in shares of Delta Air Lines by 7.3% in the first quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock worth $1,291,656,000 after buying an additional 1,918,036 shares during the period. Primecap Management Co. CA raised its position in shares of Delta Air Lines by 9.3% in the first quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock worth $1,043,931,000 after buying an additional 1,930,614 shares during the period. AQR Capital Management LLC raised its position in shares of Delta Air Lines by 15.8% in the first quarter. AQR Capital Management LLC now owns 9,571,378 shares of the transportation company’s stock worth $439,900,000 after buying an additional 1,308,115 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Delta Air Lines by 85.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock worth $323,542,000 after buying an additional 3,245,791 shares during the last quarter. 87.88% of the stock is currently 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 traded hands. The firm has a market capitalization of $34.60 billion, a price-to-earnings ratio of 9.42 and a beta of 1.20. The company’s 50-day moving average price is $51.80 and its 200 day moving average price is $49.44. Delta Air Lines, Inc. has a 1-year low of $35.90 and a 1-year high of $55.75. Delta Air Lines also was the recipient of some unusual options trading on Wednesday. Stock investors bought 20,043 call options on the stock. This is an increase of 109% compared to the average daily volume of 9,579 call options.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 EPS 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 for the quarter, compared to analyst estimates of $10.81 billion. During the same period last year, the company posted $1.47 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Monday, August 21st. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a yield of 2.57%. Delta Air Lines’s dividend payout ratio is 16.10%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by BNB Daily and is the sole property of of BNB Daily. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/patriot-wealth-management-inc-purchases-new-position-in-delta-air-lines-inc-dal-updated-updated-updated.html.

A number of research firms recently weighed in on DAL. Bank of America Corporation increased their price target on Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, June 30th. BidaskClub upgraded Delta Air Lines from a “sell” rating to a “hold” rating in a research report on Wednesday. Wolfe Research upgraded Delta Air Lines from a “market perform” rating to an “outperform” rating in a research report on Friday. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating on shares of Delta Air Lines in a research report on Friday, May 26th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $60.00 price target on shares of Delta Air Lines in a research report on Thursday, July 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. The company currently has a consensus 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 transaction of $1,213,750.00. Following the completion of the transaction, the chief executive officer now directly owns 285,508 shares of the company’s stock, valued at $13,861,413.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO W Gilbert West sold 26,131 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $50.47, for a total value of $1,318,831.57. Following the transaction, the chief operating officer now directly owns 89,232 shares of the company’s stock, valued at $4,503,539.04. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 389,000 shares of company stock valued at $31,120 and have sold 126,831 shares valued at $6,703,732. Corporate insiders own 0.37% of the company’s stock.

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)

Receive News & Ratings for Delta Air Lines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply