CIBC World Markets Inc. grew its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 67.9% during the first quarter, Holdings Channel reports. The firm owned 149,620 shares of the transportation company’s stock after acquiring an additional 60,518 shares during the quarter. CIBC World Markets Inc.’s holdings in Delta Air Lines were worth $8,201,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Moors & Cabot Inc. grew its stake in shares of Delta Air Lines by 44.8% in the first quarter. Moors & Cabot Inc. now owns 10,215 shares of the transportation company’s stock valued at $560,000 after buying an additional 3,159 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Delta Air Lines by 9.9% in the first quarter. Xact Kapitalforvaltning AB now owns 17,979 shares of the transportation company’s stock valued at $985,000 after buying an additional 1,617 shares in the last quarter. M Holdings Securities Inc. bought a new position in shares of Delta Air Lines in the first quarter valued at $262,000. Gables Capital Management Inc. bought a new position in shares of Delta Air Lines in the first quarter valued at $181,000. Finally, Nvwm LLC grew its stake in shares of Delta Air Lines by 558.5% in the first quarter. Nvwm LLC now owns 2,700 shares of the transportation company’s stock valued at $140,000 after buying an additional 2,290 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.
Several equities analysts recently weighed in on the stock. ValuEngine cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Imperial Capital lifted their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Zacks Investment Research cut shares of Delta Air Lines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 13th. Cfra reaffirmed a “buy” rating and set a $70.00 price objective on shares of Delta Air Lines in a research report on Monday. Finally, Citigroup reduced their price objective on shares of Delta Air Lines from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, June 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $68.71.
In related news, CEO Edward H. Bastian sold 25,000 shares of the business’s stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $55.34, for a total value of $1,383,500.00. Following the completion of the transaction, the chief executive officer now owns 301,943 shares of the company’s stock, valued at $16,709,525.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 12,000 shares of the business’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $54.50, for a total value of $654,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,497 shares of company stock valued at $3,543,174. 0.33% of the stock is owned by insiders.
Shares of Delta Air Lines opened at $53.73 on Friday, Marketbeat.com reports. The stock has a market capitalization of $37.73 billion, a PE ratio of 10.90 and a beta of 1.09. Delta Air Lines, Inc. has a 52-week low of $44.59 and a 52-week high of $60.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.39 and a quick ratio of 0.33.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, April 12th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.89 billion. Delta Air Lines had a net margin of 8.37% and a return on equity of 26.19%. Delta Air Lines’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. analysts anticipate that Delta Air Lines, Inc. will post 5.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 11th were paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, May 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.75%.
About Delta Air Lines
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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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