Chevy Chase Trust Holdings LLC Buys 8,379 Shares of Delta Air Lines, Inc. $DAL

Chevy Chase Trust Holdings LLC lifted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 354,888 shares of the transportation company’s stock after buying an additional 8,379 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Delta Air Lines worth $17,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Delta Air Lines by 0.7% in 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 buying an additional 514,264 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Delta Air Lines in the second quarter valued at approximately $386,364,000. Invesco Ltd. boosted its stake in shares of Delta Air Lines by 30.2% in the first quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company’s stock valued at $315,788,000 after buying an additional 1,681,464 shares during the period. AQR Capital Management LLC boosted its stake in shares of 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 valued at $246,487,000 after buying an additional 3,577,489 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $257,918,000 after buying an additional 2,370,795 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DAL. Morgan Stanley boosted their price target on Delta Air Lines from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. The Goldman Sachs Group boosted their price target on Delta Air Lines from $60.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Barclays upped their price objective on Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Bernstein Bank lifted their target price on Delta Air Lines from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, Wolfe Research lifted their target price on Delta Air Lines from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $71.53.

Insider Activity at Delta Air Lines

In related news, CEO Edward H. Bastian sold 35,000 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the sale, the chief executive officer directly owned 632,823 shares in the company, valued at $35,615,278.44. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of the 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 completion of the sale, the senior vice president owned 15,816 shares of the company’s stock, valued at $968,730. The trade was a 46.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock worth $2,979,663 over the last three months. Company insiders own 0.88% of the company’s stock.

Delta Air Lines Stock Down 1.2%

Shares of DAL opened at $59.70 on Friday. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The stock has a market capitalization of $38.98 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 1.37 and a beta of 1.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. The stock has a fifty day moving average of $59.35 and a 200-day moving average of $52.13.

Delta Air Lines (NYSE:DAL) last announced 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 during the quarter. As a group, sell-side analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, October 16th. Delta Air Lines’s dividend payout ratio is presently 10.56%.

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 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.