Cornerstone Capital Management Holdings LLC. lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 6.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,333 shares of the transportation company’s stock after selling 9,384 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Delta Air Lines were worth $7,103,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc bought a new position in Delta Air Lines during the second quarter worth $114,000. BB&T Investment Services Inc. bought a new position in Delta Air Lines during the second quarter worth $128,000. Bessemer Group Inc. increased its position in Delta Air Lines by 104.3% during the second quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock worth $137,000 after acquiring an additional 1,298 shares during the period. Advisory Services Network LLC increased its position in Delta Air Lines by 3.0% during the second 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 period. Finally, IHT Wealth Management LLC increased its position in Delta Air Lines by 40.9% during the second 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. 85.24% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Steven M. Sear sold 6,898 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $53.01, for a total value of $365,662.98. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Edward H. Bastian sold 159,240 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $53.06, for a total transaction of $8,449,274.40. The disclosure for this sale can be found here. Insiders sold a total of 239,810 shares of company stock worth $12,684,903 in the last 90 days. 0.37% of the stock is owned by corporate insiders.
Shares of Delta Air Lines, Inc. (NYSE DAL) opened at $53.63 on Thursday. The stock has a market cap of $38,226.05, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.29. 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 fifty-two week low of $43.81 and a fifty-two week high of $55.75.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.04. The firm had revenue of $11.06 billion for the quarter, compared to analyst estimates of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 EPS. equities research analysts forecast that Delta Air Lines, Inc. will post 5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were paid a $0.305 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.22 annualized dividend and a dividend yield of 2.27%. Delta Air Lines’s dividend payout ratio is presently 24.50%.
A number of equities analysts recently issued reports on the stock. Wolfe Research raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $63.00 target price (down previously from $67.00) on shares of Delta Air Lines in a research report on Wednesday, September 27th. Cowen dropped their target price on shares of Delta Air Lines from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, September 28th. UBS reaffirmed a “buy” rating and set a $62.00 target price (down previously from $65.00) on shares of Delta Air Lines in a research report on Saturday, September 30th. Finally, ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $63.39.
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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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