Mid Atlantic Financial Management Inc. ADV boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 61.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,769 shares of the transportation company’s stock after buying an additional 6,410 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in Delta Air Lines were worth $866,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Washington Trust Bank boosted its stake in Delta Air Lines by 141.3% during the first quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock valued at $25,000 after buying an additional 284 shares in the last quarter. Kistler Tiffany Companies LLC bought a new position in Delta Air Lines during the first quarter valued at about $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Delta Air Lines during the first quarter valued at about $26,000. Northwest Wealth Management LLC bought a new position in Delta Air Lines during the first quarter valued at about $26,000. Finally, Paragon Capital Management LLC bought a new position in Delta Air Lines during the first quarter valued at about $26,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
DAL has been the subject of several research reports. Stephens set a $63.00 target price on Delta Air Lines and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus raised their target price on Delta Air Lines from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Zacks Investment Research cut Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Deutsche Bank cut Delta Air Lines from a “buy” rating to a “hold” rating and set a $49.58 target price for the company. in a research note on Friday, March 1st. Finally, Buckingham Research raised their target price on Delta Air Lines from $62.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $66.09.
NYSE:DAL opened at $54.89 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.34 and a quick ratio of 0.29. Delta Air Lines, Inc. has a 1-year low of $45.08 and a 1-year high of $61.32. The firm has a market capitalization of $35.95 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.66 and a beta of 1.13.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.06. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. The business had revenue of $10.47 billion during the quarter, compared to analyst estimates of $10.39 billion. During the same quarter last year, the company posted $0.74 EPS. Research analysts expect that Delta Air Lines, Inc. will post 6.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 2nd will be given a $0.35 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.55%. Delta Air Lines’s dividend payout ratio (DPR) is 24.78%.
In other Delta Air Lines news, major shareholder Berkshire Hathaway Inc acquired 2,345,077 shares of Delta Air Lines stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $49.37 per share, with a total value of $115,776,451.49. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter W. Carter sold 25,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the sale, the executive vice president now directly owns 85,295 shares of the company’s stock, valued at $4,947,962.95. The disclosure for this sale can be found here. In the last quarter, insiders purchased 3,554,538 shares of company stock valued at $175,828,075 and sold 145,901 shares valued at $8,125,848. Company insiders own 0.47% of the company’s stock.
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About Delta Air Lines
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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