Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Delta Air Lines, Inc. $DAL

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 17.4% in the 2nd quarter, Holdings Channel reports. The firm owned 473,477 shares of the transportation company’s stock after acquiring an additional 70,270 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Delta Air Lines were worth $23,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new stake in Delta Air Lines in the second quarter worth approximately $25,000. Activest Wealth Management lifted its position in Delta Air Lines by 2,280.8% in the second quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 593 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in Delta Air Lines in the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new stake in Delta Air Lines in the first quarter valued at approximately $33,000. Finally, Hara Capital LLC bought a new stake in Delta Air Lines in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

In related news, Director Michael P. Huerta sold 2,500 shares of the business’s stock in a transaction 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 owned 33,245 shares in the company, valued at $2,017,971.50. The trade was a 6.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the transaction, the senior vice president owned 15,816 shares of the company’s stock, valued at approximately $968,730. The trade was a 46.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 39,833 shares of company stock valued at $2,463,585. 0.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on DAL. Susquehanna Bancshares boosted their price objective on Delta Air Lines from $51.00 to $65.00 and gave the company a “positive” rating in a research report on Friday, July 11th. JPMorgan Chase & Co. raised their price target on Delta Air Lines from $72.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Jefferies Financial Group raised their price target on Delta Air Lines from $70.00 to $74.00 and gave the company a “buy” rating in a report on Monday, October 13th. Bank of America increased their price objective on Delta Air Lines from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, BNP Paribas Exane increased their price objective on Delta Air Lines from $58.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company. According to MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $71.53.

Delta Air Lines Stock Down 4.2%

NYSE DAL opened at $57.93 on Wednesday. The stock’s 50 day moving average is $59.54 and its 200 day moving average is $53.26. 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, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The stock has a market cap of $37.82 billion, a PE ratio of 8.16, a P/E/G ratio of 1.38 and a beta of 1.50.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%.The company had revenue of $8.40 billion for the quarter. Research analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be given 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 dividend yield of 1.3%. Delta Air Lines’s payout ratio is currently 10.56%.

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 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.