Lowe Brockenbrough & Co. Inc. Buys 9,970 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Lowe Brockenbrough & Co. Inc. boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,204 shares of the transportation company’s stock after acquiring an additional 9,970 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Delta Air Lines were worth $7,035,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Buckingham Capital Management Inc. lifted its holdings in shares of Delta Air Lines by 4.5% during the 4th quarter. Buckingham Capital Management Inc. now owns 67,847 shares of the transportation company’s stock valued at $3,386,000 after purchasing an additional 2,913 shares during the last quarter. Comerica Securities Inc. purchased a new stake in shares of Delta Air Lines during the 4th quarter worth about $200,000. WINTON GROUP Ltd purchased a new stake in shares of Delta Air Lines during the 4th quarter worth about $206,000. Canada Pension Plan Investment Board boosted its stake in shares of Delta Air Lines by 17.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 592,208 shares of the transportation company’s stock worth $29,549,000 after acquiring an additional 89,516 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Delta Air Lines during the 4th quarter worth about $131,000. 87.21% of the stock is currently owned by institutional investors and hedge funds.

DAL has been the topic of a number of research reports. Imperial Capital reaffirmed an “in-line” rating and issued a $58.00 price target on shares of Delta Air Lines in a research note on Thursday, April 11th. Zacks Investment Research lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Citigroup raised their price target on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Bank of America reaffirmed a “neutral” rating and issued a $59.00 price target (up from $55.00) on shares of Delta Air Lines in a research note on Thursday, April 4th. Finally, Stifel Nicolaus raised their price target on shares of Delta Air Lines from $80.00 to $85.00 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 issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.27.

In other news, insider Steven M. Sear sold 8,993 shares of Delta Air Lines stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $53.27, for a total transaction of $479,057.11. Following the completion of the sale, the insider now directly owns 76,150 shares of the company’s stock, valued at approximately $4,056,510.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO W Gilbert West sold 7,465 shares of Delta Air Lines stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $58.52, for a total transaction of $436,851.80. Following the sale, the chief operating officer now directly owns 94,933 shares of the company’s stock, valued at $5,555,479.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,468 shares of company stock valued at $6,118,032. Insiders own 0.47% of the company’s stock.

Delta Air Lines stock opened at $55.99 on Monday. Delta Air Lines, Inc. has a fifty-two week low of $45.08 and a fifty-two week high of $61.32. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.34 and a quick ratio of 0.29. The company has a market capitalization of $36.67 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.60 and a beta of 1.15.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.06. The business had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, sell-side analysts expect that Delta Air Lines, Inc. will post 6.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 2nd were paid a $0.35 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.50%. Delta Air Lines’s dividend payout ratio (DPR) is 24.78%.

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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.

Further Reading: Why is insider trading harmful?

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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