Caxton Associates LP boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 1,732.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 170,400 shares of the transportation company’s stock after buying an additional 161,100 shares during the period. Caxton Associates LP’s holdings in Delta Air Lines were worth $8,217,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in DAL. IHT Wealth Management LLC lifted its holdings in shares of Delta Air Lines by 40.9% during the 2nd quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after acquiring an additional 220 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in Delta Air Lines in the 2nd quarter valued at approximately $114,000. Bessemer Group Inc. lifted its stake in Delta Air Lines by 104.3% in 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 last quarter. Advisory Services Network LLC lifted 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 valued at $137,000 after purchasing an additional 75 shares during the last quarter. Finally, BB&T Investment Services Inc. bought a new position in Delta Air Lines in the 2nd quarter valued at approximately $128,000. Institutional investors and hedge funds own 85.24% 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 shares were sold at an average price of $53.06, for a total value of $8,449,274.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter W. Carter sold 19,809 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $50.42, for a total transaction of $998,769.78. Following the completion of the transaction, the executive vice president now directly owns 67,077 shares of the company’s stock, valued at approximately $3,382,022.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 239,810 shares of company stock valued at $12,684,903. 0.37% of the stock is owned by corporate insiders.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.04. The firm had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.70 earnings per share. analysts expect that Delta Air Lines, Inc. will post 4.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were paid a dividend of $0.305 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.22 annualized dividend and a yield of 2.17%. Delta Air Lines’s dividend payout ratio is currently 24.50%.
Several brokerages recently commented on DAL. Cowen increased their price objective on shares of Delta Air Lines from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $63.00 price target (down previously from $67.00) on shares of Delta Air Lines in a research note on Wednesday, September 27th. UBS reiterated a “buy” rating and set a $62.00 price objective (down from $65.00) on shares of Delta Air Lines in a research report on Saturday, September 30th. Macquarie started coverage on shares of Delta Air Lines in a research report on Monday, September 25th. They set an “outperform” rating and a $61.00 price objective for the company. Finally, Imperial Capital upgraded shares of Delta Air Lines from an “in-line” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $63.64.
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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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