Altfest L J & Co. Inc. Invests $583,000 in Delta Air Lines, Inc. (NYSE:DAL)

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Altfest L J & Co. Inc. acquired a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) in the 1st quarter, HoldingsChannel reports. The fund acquired 11,280 shares of the transportation company’s stock, valued at approximately $583,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Washington Trust Bank boosted its holdings in shares of Delta Air Lines by 141.3% during the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 284 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Delta Air Lines during the 1st quarter valued at about $26,000. Northwest Wealth Management LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter valued at about $26,000. Paragon Capital Management LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter valued at about $26,000. Finally, Kistler Tiffany Companies LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter valued at about $26,000. 87.41% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines stock traded down $0.53 during midday trading on Friday, reaching $55.99. The stock had a trading volume of 4,382,468 shares, compared to its average volume of 4,332,788. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.34 and a quick ratio of 0.29. Delta Air Lines, Inc. has a 52-week low of $45.08 and a 52-week high of $61.32. The firm has a market capitalization of $36.67 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 0.60 and a beta of 1.16.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.06. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. The company had revenue of $10.47 billion for the quarter, compared to analyst estimates of $10.39 billion. During the same period in the prior year, the company posted $0.74 EPS. Research analysts anticipate that Delta Air Lines, Inc. will post 6.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Wednesday, May 1st. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.78%.

In related news, insider Steven M. Sear sold 8,993 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $53.27, for a total value of $479,057.11. Following the sale, the insider now directly owns 76,150 shares of the company’s stock, valued at approximately $4,056,510.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 34,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $58.00, for a total transaction of $1,972,000.00. Following the completion of the sale, the executive vice president now directly owns 93,600 shares in the company, valued at $5,428,800. The disclosure for this sale can be found here. Insiders sold a total of 106,468 shares of company stock worth $6,118,032 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

Several analysts have recently issued reports on DAL shares. Stephens set a $63.00 target price on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus upped their target price on shares of Delta Air Lines from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Deutsche Bank cut shares of Delta Air Lines from a “buy” rating to a “hold” rating and set a $49.58 target price on the stock. in a research report on Friday, March 1st. Buckingham Research upped their target price on shares of Delta Air Lines from $62.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Citigroup upped their target price on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $65.27.

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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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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