Garnet Equity Capital Holdings Inc. purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 100,000 shares of the transportation company’s stock, valued at approximately $5,600,000. Delta Air Lines comprises about 4.5% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 9th biggest position.
A number of other institutional investors and hedge funds also recently bought and sold shares of DAL. Victory Capital Management Inc. grew its position in Delta Air Lines by 15.6% during the 3rd quarter. Victory Capital Management Inc. now owns 42,951 shares of the transportation company’s stock worth $2,071,000 after acquiring an additional 5,791 shares during the last quarter. Swiss National Bank grew its position in Delta Air Lines by 1.7% during the 3rd quarter. Swiss National Bank now owns 676,907 shares of the transportation company’s stock worth $32,640,000 after acquiring an additional 11,300 shares during the last quarter. Bessemer Group Inc. grew its position in Delta Air Lines by 148.9% during the 3rd quarter. Bessemer Group Inc. now owns 6,329 shares of the transportation company’s stock worth $306,000 after acquiring an additional 3,786 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings in Delta Air Lines by 3.7% in the 3rd quarter. Hennessy Advisors Inc. now owns 42,000 shares of the transportation company’s stock worth $2,025,000 after buying an additional 1,500 shares during the period. Finally, FDx Advisors Inc. lifted its holdings in Delta Air Lines by 8.9% in the 3rd quarter. FDx Advisors Inc. now owns 19,080 shares of the transportation company’s stock worth $920,000 after buying an additional 1,555 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.
Several research firms have weighed in on DAL. Stephens reiterated a “buy” rating and issued a $72.00 price objective on shares of Delta Air Lines in a report on Wednesday, January 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Delta Air Lines in a report on Wednesday, January 10th. Zacks Investment Research upgraded Delta Air Lines from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Thursday, February 8th. Imperial Capital reiterated an “outperform” rating and issued a $65.00 price objective (up previously from $63.00) on shares of Delta Air Lines in a report on Friday, January 12th. Finally, Sanford C. Bernstein set a $67.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $67.05.
Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, January 11th. The transportation company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.08. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Delta Air Lines had a return on equity of 26.27% and a net margin of 8.67%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. analysts expect that Delta Air Lines, Inc. will post 6.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 23rd will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, February 22nd. Delta Air Lines’s payout ratio is presently 24.70%.
In other news, Director George N. Mattson bought 10,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $51.89 per share, for a total transaction of $518,900.00. Following the purchase, the director now directly owns 66,510 shares in the company, valued at approximately $3,451,203.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson sold 49,362 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $60.20, for a total value of $2,971,592.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 323,638 shares of company stock valued at $18,537,123. 0.37% of the stock is currently owned by company insiders.
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Delta Air Lines 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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