The Manufacturers Life Insurance Company raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 25.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,158,857 shares of the transportation company’s stock after acquiring an additional 237,460 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.16% of Delta Air Lines worth $62,277,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. FNY Managed Accounts LLC acquired a new stake in shares of Delta Air Lines in the first quarter valued at approximately $100,000. Ruggie Capital Group increased its holdings in shares of Delta Air Lines by 1,187.0% in the first quarter. Ruggie Capital Group now owns 2,767 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 2,552 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Delta Air Lines by 104.3% in the second quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 1,298 shares during the last quarter. Independent Portfolio Consultants Inc. increased its holdings in shares of Delta Air Lines by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,964 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 1,384 shares during the last quarter. Finally, Hartland & Co. LLC acquired a new stake in shares of Delta Air Lines in the first quarter valued at approximately $201,000. 86.26% of the stock is owned by institutional investors and hedge funds.
Shares of Delta Air Lines, Inc. (NYSE DAL) traded up 0.53% on Wednesday, reaching $52.98. The company had a trading volume of 3,847,584 shares. Delta Air Lines, Inc. has a 1-year low of $37.91 and a 1-year high of $55.75. The firm has a market capitalization of $38.57 billion, a price-to-earnings ratio of 10.50 and a beta of 1.24. The firm has a 50-day moving average price of $48.35 and a 200 day moving average price of $49.40.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.04. The company had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. Delta Air Lines’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.70 EPS. Equities research analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd were issued a $0.305 dividend. The ex-dividend date of this dividend was Monday, August 21st. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a yield of 2.31%. Delta Air Lines’s payout ratio is 24.25%.
In other Delta Air Lines news, Director George N. Mattson purchased 6,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was bought at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the acquisition, the director now owns 61,510 shares of the company’s stock, valued at approximately $2,795,014.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $55.26, for a total value of $276,300.00. Following the completion of the transaction, the vice president now owns 7,437 shares of the company’s stock, valued at $410,968.62. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 133,000 shares of company stock valued at $282,800 and sold 75,700 shares valued at $4,171,150. Insiders own 0.37% of the company’s stock.
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Several equities research analysts recently commented on the company. Bank of America Corporation increased their price target on Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a report on Friday, June 30th. BidaskClub raised Delta Air Lines from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Delta Air Lines in a report on Thursday, July 13th. ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Finally, Imperial Capital reaffirmed a “hold” rating and issued a $50.00 price target on shares of Delta Air Lines in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $61.91.
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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