Parallel Advisors LLC lowered its stake in Delta Air Lines, Inc. (NYSE:DAL) by 42.2% during the second quarter, Holdings Channel reports. The firm owned 2,870 shares of the transportation company’s stock after selling 2,097 shares during the period. Parallel Advisors LLC’s holdings in Delta Air Lines were worth $163,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of DAL. Boston Partners increased its position in shares of Delta Air Lines by 24.1% in the first quarter. Boston Partners now owns 13,730,881 shares of the transportation company’s stock worth $709,200,000 after purchasing an additional 2,669,765 shares during the period. Ceredex Value Advisors LLC bought a new position in shares of Delta Air Lines in the first quarter worth $56,756,000. Janus Henderson Group PLC increased its position in shares of Delta Air Lines by 27.5% in the second quarter. Janus Henderson Group PLC now owns 3,946,432 shares of the transportation company’s stock worth $223,961,000 after purchasing an additional 850,291 shares during the period. Neuberger Berman Group LLC increased its position in shares of Delta Air Lines by 15.0% in the first quarter. Neuberger Berman Group LLC now owns 6,124,500 shares of the transportation company’s stock worth $316,331,000 after purchasing an additional 798,959 shares during the period. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Delta Air Lines in the first quarter worth $39,785,000. Institutional investors own 85.54% of the company’s stock.
In other news, EVP Rahul D. Samant sold 16,559 shares of Delta Air Lines stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $61.87, for a total transaction of $1,024,505.33. Following the sale, the executive vice president now directly owns 51,039 shares of the company’s stock, valued at $3,157,782.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Glen W. Hauenstein sold 50,000 shares of Delta Air Lines stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total value of $3,151,500.00. Following the sale, the president now directly owns 267,526 shares in the company, valued at $16,862,163.78. The disclosure for this sale can be found here. Insiders have sold 92,278 shares of company stock worth $5,698,438 over the last three months. Insiders own 0.47% of the company’s stock.
A number of research analysts recently commented on DAL shares. Buckingham Research raised their price target on Delta Air Lines from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research reiterated a “sell” rating on shares of Delta Air Lines in a research report on Tuesday, July 23rd. Deutsche Bank lifted their target price on Delta Air Lines from $56.00 to $61.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Cowen reiterated an “outperform” rating and issued a $69.00 target price (up previously from $67.00) on shares of Delta Air Lines in a research report on Thursday, July 11th. Finally, Wolfe Research set a $69.00 target price on Delta Air Lines and gave the company a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $67.56.
Delta Air Lines stock opened at $56.20 on Friday. Delta Air Lines, Inc. has a 12-month low of $45.08 and a 12-month high of $63.44. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $60.09 and its two-hundred day moving average price is $55.55. The stock has a market cap of $37.72 billion, a PE ratio of 9.95, a P/E/G ratio of 0.46 and a beta of 1.18.
Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.07. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The firm had revenue of $12.54 billion for the quarter, compared to analysts’ expectations of $12.49 billion. During the same quarter in the previous year, the business posted $1.77 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts expect that Delta Air Lines, Inc. will post 7.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th were paid a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, July 24th. Delta Air Lines’s dividend payout ratio (DPR) is presently 28.50%.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
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