Castleark Management LLC increased its position in Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 260,740 shares of the transportation company’s stock after acquiring an additional 31,250 shares during the quarter. Castleark Management LLC’s holdings in Delta Air Lines were worth $18,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. TD Asset Management Inc grew its position in shares of Delta Air Lines by 14.0% during the 3rd quarter. TD Asset Management Inc now owns 457,796 shares of the transportation company’s stock valued at $25,980,000 after acquiring an additional 56,365 shares during the period. Jefferies Financial Group Inc. bought a new position in Delta Air Lines in the 3rd quarter worth approximately $1,041,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Delta Air Lines by 22.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the transportation company’s stock worth $7,438,000 after purchasing an additional 19,829 shares during the period. iA Global Asset Management Inc. boosted its stake in Delta Air Lines by 53.2% during the fourth quarter. iA Global Asset Management Inc. now owns 92,142 shares of the transportation company’s stock valued at $6,395,000 after buying an additional 32,014 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in Delta Air Lines by 66.0% during the third quarter. Ceredex Value Advisors LLC now owns 911,136 shares of the transportation company’s stock valued at $51,707,000 after buying an additional 362,329 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently commented on DAL. HSBC lowered their price target on shares of Delta Air Lines from $80.20 to $79.30 and set a “buy” rating for the company in a report on Thursday, April 9th. Jefferies Financial Group lifted their target price on Delta Air Lines from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Morgan Stanley lifted their target price on Delta Air Lines from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Citigroup lifted their target price on Delta Air Lines from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Finally, Raymond James Financial boosted their price objective on shares of Delta Air Lines from $76.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.85.
Delta Air Lines Stock Up 1.6%
Shares of DAL stock opened at $83.11 on Friday. The stock’s 50-day simple moving average is $73.02 and its 200-day simple moving average is $69.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The firm has a market capitalization of $54.60 billion, a PE ratio of 12.12, a P/E/G ratio of 1.16 and a beta of 1.30. Delta Air Lines, Inc. has a fifty-two week low of $45.28 and a fifty-two week high of $83.83.
Delta Air Lines (NYSE:DAL – Get Free Report) last announced its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. Equities analysts expect that Delta Air Lines, Inc. will post 5.37 earnings per share for the current year.
Delta Air Lines Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were issued a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.9%. Delta Air Lines’s dividend payout ratio is currently 10.93%.
Insider Activity
In other news, EVP Allison C. Ausband sold 9,710 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $76.00, for a total value of $737,960.00. Following the transaction, the executive vice president directly owned 138,854 shares of the company’s stock, valued at approximately $10,552,904. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total value of $2,036,000.00. Following the completion of the transaction, the executive vice president directly owned 95,025 shares in the company, valued at $7,738,836. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 149,635 shares of company stock valued at $10,833,855. Company insiders own 0.80% of the company’s stock.
Delta Air Lines Profile
Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.
The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.
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