TIAA CREF Investment Management LLC grew its position in Delta Air Lines, Inc. (NYSE:DAL) by 77.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,364,934 shares of the transportation company’s stock after purchasing an additional 2,343,531 shares during the period. TIAA CREF Investment Management LLC owned about 0.74% of Delta Air Lines worth $288,312,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of DAL. BlackRock Inc. increased its position in Delta Air Lines by 2,951.4% in the 1st quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after purchasing an additional 43,777,555 shares during the last quarter. Winslow Capital Management LLC increased its position in Delta Air Lines by 5,815,030.8% in the 1st quarter. Winslow Capital Management LLC now owns 4,535,802 shares of the transportation company’s stock worth $208,465,000 after purchasing an additional 4,535,724 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Delta Air Lines by 85.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock worth $323,542,000 after purchasing an additional 3,245,791 shares during the last quarter. Sound Shore Management Inc. CT acquired a new position in Delta Air Lines in the 2nd quarter worth about $158,224,000. Finally, Primecap Management Co. CA increased its position in Delta Air Lines by 9.3% in the 1st quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock worth $1,043,931,000 after purchasing an additional 1,930,614 shares during the last quarter. 86.49% of the stock is currently owned by institutional investors.
Shares of Delta Air Lines, Inc. (NYSE:DAL) traded down 0.37% during mid-day trading on Tuesday, reaching $48.64. The company had a trading volume of 2,301,024 shares. Delta Air Lines, Inc. has a 12 month low of $36.59 and a 12 month high of $55.75. The firm’s 50-day moving average is $48.68 and its 200 day moving average is $49.19. The company has a market capitalization of $35.41 billion, a price-to-earnings ratio of 9.64 and a beta of 1.25.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.02). Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The firm had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current 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 paid a $0.305 dividend. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, August 21st. Delta Air Lines’s payout ratio is 24.25%.
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In other Delta Air Lines news, Director George N. Mattson bought 6,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was purchased at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the purchase, the director now directly owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $55.26, for a total value of $276,300.00. Following the sale, the vice president now owns 7,437 shares of the company’s stock, valued at $410,968.62. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 275,000 shares of company stock valued at $294,160 and sold 75,700 shares valued at $4,171,150. Insiders own 0.37% of the company’s stock.
Several research analysts have weighed in on the company. Imperial Capital reaffirmed an “in-line” rating and issued a $52.00 target price on shares of Delta Air Lines in a research report on Friday, May 19th. BidaskClub raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Vetr lowered Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 target price on the stock. in a research report on Thursday, June 1st. Atlantic Securities assumed coverage on Delta Air Lines in a research report on Tuesday, June 20th. They issued an “overweight” rating and a $68.00 target price on the stock. Finally, Barclays PLC assumed coverage on Delta Air Lines in a research report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $61.34.
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.
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