Chevy Chase Trust Holdings LLC Has $17.45 Million Position in Delta Air Lines, Inc. $DAL

Chevy Chase Trust Holdings LLC grew its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 354,888 shares of the transportation company’s stock after acquiring an additional 8,379 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Delta Air Lines were worth $17,453,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Delta Air Lines by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company’s stock worth $3,179,508,000 after acquiring an additional 514,264 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Delta Air Lines during the 2nd quarter worth about $386,364,000. Invesco Ltd. grew its holdings in Delta Air Lines by 30.2% during the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company’s stock worth $315,788,000 after acquiring an additional 1,681,464 shares during the period. AQR Capital Management LLC grew its holdings in Delta Air Lines by 149.9% during the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company’s stock worth $246,487,000 after acquiring an additional 3,577,489 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Delta Air Lines by 66.9% during the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company’s stock worth $257,918,000 after acquiring an additional 2,370,795 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Delta Air Lines

In related news, SVP William C. Carroll sold 14,010 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the transaction, the senior vice president owned 15,816 shares of the company’s stock, valued at approximately $968,730. This trade represents a 46.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the transaction, the chief executive officer directly owned 632,823 shares in the company, valued at approximately $35,615,278.44. This represents a 5.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,510 shares of company stock valued at $2,979,663. 0.88% of the stock is owned by corporate insiders.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $59.70 on Friday. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The stock has a market cap of $38.98 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 1.37 and a beta of 1.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. The firm’s 50-day simple moving average is $59.35 and its 200 day simple moving average is $52.13.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. The business had revenue of $8.40 billion for the quarter. As a group, research analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 annualized dividend and a yield of 1.3%. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.56%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Delta Air Lines in a report on Wednesday, October 8th. Wolfe Research raised their target price on Delta Air Lines from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. TD Cowen raised their target price on Delta Air Lines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Evercore ISI raised their target price on Delta Air Lines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Dbs Bank upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $71.53.

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.