GRATRY & Co LLC lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,910 shares of the transportation company’s stock after selling 488 shares during the period. GRATRY & Co LLC’s holdings in Delta Air Lines were worth $226,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Crow Point Partners LLC bought a new stake in shares of Delta Air Lines during the third quarter valued at $106,000. Tompkins Financial Corp bought a new stake in shares of Delta Air Lines during the first quarter valued at $107,000. Physicians Financial Services Inc. bought a new stake in shares of Delta Air Lines during the third quarter valued at $110,000. Advisory Services Network LLC bought a new stake in shares of Delta Air Lines during the first quarter valued at $114,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Delta Air Lines during the third quarter valued at $128,000. Hedge funds and other institutional investors own 79.44% of the company’s stock.
Shares of Delta Air Lines, Inc. (NYSE:DAL) traded up 1.668% on Friday, hitting $48.455. The stock had a trading volume of 2,885,263 shares. Delta Air Lines, Inc. has a 12 month low of $32.60 and a 12 month high of $52.76. The company has a market cap of $35.28 billion, a P/E ratio of 8.937 and a beta of 0.75. The company’s 50 day moving average price is $46.71 and its 200-day moving average price is $48.08.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Wednesday, April 12th. The transportation company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Delta Air Lines had a return on equity of 33.59% and a net margin of 11.03%. The company had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the previous year, the firm posted $1.32 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 19th will be given a dividend of $0.2025 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $0.81 dividend on an annualized basis and a yield of 1.70%. Delta Air Lines’s dividend payout ratio is currently 14.04%.
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Several analysts have weighed in on the company. Imperial Capital reiterated an “in-line” rating and issued a $52.00 price objective on shares of Delta Air Lines in a research report on Friday. Citigroup Inc boosted their target price on Delta Air Lines from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 12th. Vetr raised Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 target price on the stock in a research note on Monday, May 8th. Sanford C. Bernstein reissued a “market perform” rating and set a $44.00 target price on shares of Delta Air Lines in a research note on Friday, March 3rd. Finally, Cowen and Company reissued an “outperform” rating and set a $60.00 target price on shares of Delta Air Lines in a research note on Monday, March 6th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $53.26.
In other Delta Air Lines news, CFO Paul A. Jacobson sold 20,100 shares of Delta Air Lines stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $50.09, for a total transaction of $1,006,809.00. Following the completion of the sale, the chief financial officer now owns 386,070 shares of the company’s stock, valued at approximately $19,338,246.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Francis S. Blake purchased 5,665 shares of the stock in a transaction on Monday, April 17th. The shares were purchased at an average cost of $44.12 per share, with a total value of $249,939.80. Following the transaction, the director now owns 24,187 shares in the company, valued at approximately $1,067,130.44. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 274,165 shares of company stock valued at $271,620. 0.75% of the stock is currently owned by insiders.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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