Cubic Asset Management LLC trimmed its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,925 shares of the transportation company’s stock after selling 2,880 shares during the quarter. Delta Air Lines makes up 2.2% of Cubic Asset Management LLC’s holdings, making the stock its 4th biggest holding. Cubic Asset Management LLC’s holdings in Delta Air Lines were worth $7,760,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. IHT Wealth Management LLC boosted its position in Delta Air Lines by 40.9% in the second quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after purchasing an additional 220 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Delta Air Lines during the 2nd quarter valued at $114,000. FNY Managed Accounts LLC bought a new stake in shares of Delta Air Lines during the 1st quarter valued at $100,000. Bessemer Group Inc. raised its stake in shares of Delta Air Lines by 104.3% during the 2nd 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 period. Finally, Advisory Services Network LLC increased its stake in Delta Air Lines by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.
In other Delta Air Lines news, CEO Edward H. Bastian sold 159,240 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total transaction of $8,449,274.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George N. Mattson acquired 6,000 shares of Delta Air Lines stock in a transaction on Thursday, August 24th. The shares were bought at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the purchase, the director now directly owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The disclosure for this purchase can be found here. Insiders sold 200,001 shares of company stock worth $10,630,333 over the last 90 days. Company insiders own 0.37% of the company’s stock.
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Delta Air Lines, Inc. (NYSE DAL) traded down $0.03 during midday trading on Tuesday, reaching $48.86. The company had a trading volume of 5,182,500 shares, compared to its average volume of 7,895,113. The stock has a market capitalization of $34,810.00, a P/E ratio of 10.19, a PEG ratio of 1.48 and a beta of 1.28. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.54. Delta Air Lines, Inc. has a 12 month low of $43.81 and a 12 month high of $55.75.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.04. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The business had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the business earned $1.70 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. sell-side analysts anticipate that Delta Air Lines, Inc. will post 5.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $0.305 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.22 annualized dividend and a dividend yield of 2.50%. Delta Air Lines’s payout ratio is 24.45%.
Several equities analysts have recently commented on the company. Cowen and Company reiterated a “buy” rating and set a $66.00 price objective on shares of Delta Air Lines in a research report on Monday, August 14th. BidaskClub cut Delta Air Lines from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Vetr upgraded Delta Air Lines from a “hold” rating to a “buy” rating and set a $56.43 target price for the company in a report on Tuesday, July 18th. Deutsche Bank AG dropped their target price on Delta Air Lines from $62.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, September 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Delta Air Lines in a report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $63.39.
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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