Sandy Spring Bank lifted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 390.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,355 shares of the transportation company’s stock after acquiring an additional 1,079 shares during the period. Sandy Spring Bank’s holdings in Delta Air Lines were worth $78,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its position in Delta Air Lines by 36.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock valued at $35,000 after buying an additional 164 shares in the last quarter. Vicus Capital increased its position in Delta Air Lines by 3.5% during the 2nd quarter. Vicus Capital now owns 5,523 shares of the transportation company’s stock valued at $313,000 after buying an additional 185 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in Delta Air Lines by 5.0% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,978 shares of the transportation company’s stock valued at $229,000 after buying an additional 191 shares in the last quarter. Covington Capital Management increased its position in Delta Air Lines by 35.4% during the 2nd quarter. Covington Capital Management now owns 746 shares of the transportation company’s stock valued at $42,000 after buying an additional 195 shares in the last quarter. Finally, Successful Portfolios LLC increased its position in Delta Air Lines by 5.2% during the 3rd quarter. Successful Portfolios LLC now owns 3,942 shares of the transportation company’s stock valued at $227,000 after buying an additional 196 shares in the last quarter. 87.00% of the stock is owned by hedge funds and other institutional investors.
Shares of DAL stock opened at $57.43 on Friday. The stock’s 50-day simple moving average is $55.47 and its 200-day simple moving average is $57.09. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.29 and a current ratio of 0.34. The firm has a market capitalization of $37.19 billion, a PE ratio of 10.16, a P/E/G ratio of 0.69 and a beta of 1.13. Delta Air Lines, Inc. has a fifty-two week low of $45.08 and a fifty-two week high of $63.44.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 10th. The transportation company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.06. Delta Air Lines had a return on equity of 32.84% and a net margin of 10.12%. The firm had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Delta Air Lines, Inc. will post 7.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th will be paid a $0.403 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 23rd. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.81%. Delta Air Lines’s dividend payout ratio is presently 28.50%.
Several brokerages recently issued reports on DAL. 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. Credit Suisse Group cut their price objective on Delta Air Lines from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Barclays set a $65.00 price objective on Delta Air Lines and gave the company a “buy” rating in a report on Thursday, October 10th. Berenberg Bank started coverage on Delta Air Lines in a report on Friday, September 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, Deutsche Bank increased their price objective on Delta Air Lines from $56.00 to $61.00 and gave the company a “hold” rating in a report on Friday, July 12th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.89.
Delta Air Lines 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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