Spears Abacus Advisors LLC lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 464,274 shares of the transportation company’s stock after selling 23,198 shares during the quarter. Delta Air Lines accounts for approximately 3.1% of Spears Abacus Advisors LLC’s holdings, making the stock its 15th biggest holding. Spears Abacus Advisors LLC owned approximately 0.06% of Delta Air Lines worth $24,950,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in DAL. UBS Asset Management Americas Inc. increased its holdings in Delta Air Lines by 47.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,385,205 shares of the transportation company’s stock valued at $63,664,000 after buying an additional 446,573 shares during the period. Thompson Davis & CO. Inc. increased its holdings in Delta Air Lines by 4.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 4,302 shares of the transportation company’s stock valued at $198,000 after buying an additional 166 shares during the period. Intellectus Partners LLC increased its holdings in Delta Air Lines by 28.0% in the 1st quarter. Intellectus Partners LLC now owns 84,958 shares of the transportation company’s stock valued at $3,905,000 after buying an additional 18,599 shares during the period. Stevens Capital Management LP increased its holdings in Delta Air Lines by 150.7% in the 1st quarter. Stevens Capital Management LP now owns 244,037 shares of the transportation company’s stock valued at $11,216,000 after buying an additional 146,703 shares during the period. Finally, Heritage Trust Co bought a new stake in Delta Air Lines in the 1st quarter valued at $308,000. 86.26% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, Director George N. Mattson purchased 6,000 shares of Delta Air Lines stock in a transaction dated 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 acquisition, the director now owns 61,510 shares in the company, valued at approximately $2,795,014.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $55.26, for a total value of $276,300.00. Following the sale, the vice president now owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. In the last quarter, insiders acquired 191,000 shares of company stock worth $287,440 and sold 75,700 shares worth $4,171,150. Insiders own 0.37% of the company’s stock.
Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.02). Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The business had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. The business’s revenue was up 3.3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd were given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Monday, August 21st. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s payout ratio is currently 24.25%.
Several equities research analysts have issued reports on DAL shares. Vetr lowered shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 price target on the stock. in a report on Thursday, June 1st. Atlantic Securities started coverage on shares of Delta Air Lines in a report on Tuesday, June 20th. They issued an “overweight” rating and a $68.00 price target on the stock. ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. BidaskClub raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Finally, Bank of America Corporation upped their target price on shares of Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Delta Air Lines has an average rating of “Buy” and a consensus target price of $61.63.
Delta Air Lines Profile
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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