Todd Asset Management LLC reduced its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 462,011 shares of the transportation company’s stock after selling 18,069 shares during the period. Todd Asset Management LLC owned approximately 0.06% of Delta Air Lines worth $22,278,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Delta Air Lines by 0.6% in the second quarter. Vanguard Group Inc. now owns 44,951,865 shares of the transportation company’s stock valued at $2,415,714,000 after purchasing an additional 274,997 shares in the last quarter. Boston Partners increased its stake in Delta Air Lines by 2.5% in the second quarter. Boston Partners now owns 7,774,829 shares of the transportation company’s stock valued at $417,820,000 after purchasing an additional 190,531 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Delta Air Lines by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,570,963 shares of the transportation company’s stock valued at $406,892,000 after purchasing an additional 531,518 shares in the last quarter. AJO LP increased its stake in Delta Air Lines by 21.2% in the second quarter. AJO LP now owns 5,637,157 shares of the transportation company’s stock valued at $302,941,000 after purchasing an additional 986,803 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Delta Air Lines by 77.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock valued at $288,312,000 after purchasing an additional 2,343,531 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.
Shares of Delta Air Lines, Inc. (DAL) traded up $0.01 on Tuesday, reaching $48.87. 1,349,990 shares of the company traded hands, compared to its average volume of 7,895,113. Delta Air Lines, Inc. has a fifty-two week low of $43.81 and a fifty-two week high of $55.75. The firm has a market capitalization of $34,840.00, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.43 and a quick ratio of 0.36.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. The firm had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.70 earnings per share. equities research analysts predict that Delta Air Lines, Inc. will post 5.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, November 16th. Delta Air Lines’s dividend payout ratio is currently 24.45%.
In other Delta Air Lines news, CEO Edward H. Bastian sold 159,240 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $53.06, for a total value of $8,449,274.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joanne D. Smith sold 33,863 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of $53.61, for a total transaction of $1,815,395.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,001 shares of company stock valued at $10,630,333. Corporate insiders own 0.37% of the company’s stock.
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Several brokerages have commented on DAL. Vetr raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $56.43 target price for the company in a research note on Tuesday, July 18th. Imperial Capital raised shares of Delta Air Lines from an “in-line” rating to an “outperform” rating and set a $63.00 price objective for the company in a research report on Thursday, October 12th. Cowen and Company increased their price objective on shares of Delta Air Lines from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Morgan Stanley reissued an “overweight” rating and set a $57.00 price objective (up previously from $56.00) on shares of Delta Air Lines in a research report on Wednesday, October 4th. Finally, BidaskClub downgraded shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $63.39.
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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