IFP Advisors Inc lifted its position in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 18.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,066 shares of the transportation company’s stock after purchasing an additional 1,565 shares during the period. IFP Advisors Inc’s holdings in Delta Air Lines were worth $495,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Delta Air Lines by 0.7% during the first quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company’s stock valued at $3,179,508,000 after purchasing an additional 514,264 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Delta Air Lines in the second quarter worth about $386,364,000. Invesco Ltd. raised its position in Delta Air Lines by 30.2% in the first quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company’s stock worth $315,788,000 after acquiring an additional 1,681,464 shares during the period. AQR Capital Management LLC raised its position in Delta Air Lines by 149.9% in the first quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company’s stock worth $246,487,000 after acquiring an additional 3,577,489 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Delta Air Lines by 66.9% in the first quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company’s stock worth $257,918,000 after acquiring an additional 2,370,795 shares during the period. 69.93% of the stock is owned by institutional investors.
Delta Air Lines Price Performance
Shares of NYSE:DAL opened at $61.23 on Wednesday. The company has a 50 day moving average of $58.94 and a 200 day moving average of $51.77. The stock has a market cap of $39.98 billion, a P/E ratio of 8.62, a P/E/G ratio of 1.51 and a beta of 1.50. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68.
Delta Air Lines Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 annualized dividend and a yield of 1.2%. Delta Air Lines’s payout ratio is currently 10.56%.
Insider Activity at Delta Air Lines
In other Delta Air Lines news, CEO Edward H. Bastian sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the transaction, the chief executive officer owned 632,823 shares of the company’s stock, valued at $35,615,278.44. The trade was a 5.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the transaction, the director directly owned 33,245 shares of the company’s stock, valued at approximately $2,017,971.50. This represents a 6.99% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Susquehanna lifted their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a “positive” rating in a research report on Friday. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup lifted their price objective on shares of Delta Air Lines from $62.00 to $65.50 and gave the stock a “buy” rating in a research report on Friday, July 11th. BNP Paribas Exane lifted their price objective on shares of Delta Air Lines from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, July 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Delta Air Lines in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company’s stock. According to MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $70.68.
Check Out Our Latest Stock Analysis on Delta Air Lines
Delta Air Lines 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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.
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