Fortaleza Asset Management Inc. bought a new stake in Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 7,485 shares of the transportation company’s stock, valued at approximately $402,000.
Several other institutional investors have also recently bought and sold shares of DAL. Marshall Wace LLP purchased a new position in Delta Air Lines during the second quarter valued at approximately $3,691,000. Everence Capital Management Inc. boosted its position in Delta Air Lines by 34.4% in the second quarter. Everence Capital Management Inc. now owns 13,910 shares of the transportation company’s stock valued at $748,000 after buying an additional 3,560 shares in the last quarter. BB&T Securities LLC boosted its position in Delta Air Lines by 135.4% in the second quarter. BB&T Securities LLC now owns 61,753 shares of the transportation company’s stock valued at $3,318,000 after buying an additional 35,519 shares in the last quarter. KBC Group NV boosted its position in Delta Air Lines by 28.1% in the second quarter. KBC Group NV now owns 571,910 shares of the transportation company’s stock valued at $30,735,000 after buying an additional 125,415 shares in the last quarter. Finally, Welch Capital Partners LLC NY boosted its position in Delta Air Lines by 1.2% in the second quarter. Welch Capital Partners LLC NY now owns 193,860 shares of the transportation company’s stock valued at $10,418,000 after buying an additional 2,370 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
Delta Air Lines, Inc. (DAL) remained flat at $47.53 on Friday. 8,395,102 shares of the company were exchanged. The firm’s 50-day moving average price is $51.80 and its 200-day moving average price is $49.44. The stock has a market capitalization of $34.60 billion, a price-to-earnings ratio of 9.42 and a beta of 1.20. Delta Air Lines, Inc. has a one year low of $35.90 and a one year high of $55.75.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data 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 firm had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $1.47 earnings per share. On average, analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be paid a $0.305 dividend. 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 dividend on an annualized basis and a dividend yield of 2.57%. Delta Air Lines’s dividend payout ratio is 16.10%.
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Several research firms have commented on DAL. Wolfe Research raised shares of 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. Morgan Stanley dropped their target price on shares of Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating on the stock in a research report on Thursday. BidaskClub raised shares of Delta Air Lines from a “sell” rating to a “hold” rating in a research report on Wednesday. Cowen and Company reissued a “buy” rating and set a $66.00 target price on shares of Delta Air Lines in a research report on Monday, August 14th. Finally, Barclays PLC started coverage on shares of Delta Air Lines in a report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 price target on the stock. Two research 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. Delta Air Lines presently has an average rating of “Buy” and an average price target of $60.56.
In other news, COO W Gilbert West sold 26,131 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 89,232 shares of the company’s stock, valued at $4,503,539.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $199,800.00. Following the completion of the sale, the executive vice president now directly owns 77,223 shares of the company’s stock, valued at $4,170,042. The disclosure for this sale can be found here. Over the last three months, insiders bought 389,000 shares of company stock valued at $31,120 and sold 126,831 shares valued at $6,703,732. Corporate insiders own 0.37% of the company’s stock.
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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