Meridian Wealth Management LLC bought a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 3,772 shares of the transportation company’s stock, valued at approximately $195,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of DAL. Boston Partners raised its holdings in Delta Air Lines by 24.1% during the first quarter. Boston Partners now owns 13,730,881 shares of the transportation company’s stock valued at $709,200,000 after buying an additional 2,669,765 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Delta Air Lines by 185.7% during the fourth quarter. Two Sigma Advisers LP now owns 3,653,225 shares of the transportation company’s stock valued at $182,296,000 after buying an additional 2,374,531 shares in the last quarter. FMR LLC raised its holdings in Delta Air Lines by 30.9% during the fourth quarter. FMR LLC now owns 9,742,670 shares of the transportation company’s stock valued at $486,161,000 after buying an additional 2,298,101 shares in the last quarter. Norges Bank bought a new position in Delta Air Lines during the fourth quarter valued at about $89,761,000. Finally, Ceredex Value Advisors LLC bought a new position in Delta Air Lines during the first quarter valued at about $56,756,000. Institutional investors own 87.21% of the company’s stock.
In related news, Director Michael P. Huerta sold 1,010 shares of Delta Air Lines stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $54.33, for a total transaction of $54,873.30. Following the sale, the director now directly owns 5,670 shares of the company’s stock, valued at $308,051.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven M. Sear sold 8,993 shares of Delta Air Lines stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total value of $479,057.11. Following the sale, the insider now directly owns 76,150 shares in the company, valued at $4,056,510.50. The disclosure for this sale can be found here. Insiders sold 106,468 shares of company stock worth $6,118,032 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on DAL. Imperial Capital restated an “in-line” rating and set a $58.00 target price on shares of Delta Air Lines in a report on Thursday, April 11th. Zacks Investment Research lowered Delta Air Lines from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Citigroup raised their target price on Delta Air Lines from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Bank of America restated a “neutral” rating and set a $59.00 target price (up from $55.00) on shares of Delta Air Lines in a report on Thursday, April 4th. Finally, 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 report on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Delta Air Lines has a consensus rating of “Buy” and an average price target of $65.27.
Delta Air Lines stock opened at $55.99 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.29 and a current ratio of 0.34. The stock has a market capitalization of $36.67 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $61.32.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $10.47 billion for the quarter, compared to analyst estimates of $10.39 billion. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. During the same period in the previous year, the company posted $0.74 earnings per share. Analysts anticipate that Delta Air Lines, Inc. will post 6.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 2nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.50%. Delta Air Lines’s payout ratio is presently 24.78%.
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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