Quest Investment Management LLC Sells 156,984 Shares of Delta Air Lines, Inc. (DAL)

Quest Investment Management LLC lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 75.9% in the second quarter, Holdings Channel reports. The fund owned 49,762 shares of the transportation company’s stock after selling 156,984 shares during the period. Quest Investment Management LLC’s holdings in Delta Air Lines were worth $2,465,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wagner Wealth Management LLC boosted its holdings in shares of Delta Air Lines by 375.0% in the 1st quarter. Wagner Wealth Management LLC now owns 1,900 shares of the transportation company’s stock valued at $104,000 after buying an additional 1,500 shares during the last quarter. Fortis Advisors LLC boosted its holdings in shares of Delta Air Lines by 99.1% in the 1st quarter. Fortis Advisors LLC now owns 2,389 shares of the transportation company’s stock valued at $131,000 after buying an additional 1,189 shares during the last quarter. Nvwm LLC boosted its holdings in shares of Delta Air Lines by 558.5% in the 1st 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 during the last quarter. Huntington National Bank boosted its holdings in shares of Delta Air Lines by 73.8% in the 2nd quarter. Huntington National Bank now owns 2,701 shares of the transportation company’s stock valued at $134,000 after buying an additional 1,147 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of Delta Air Lines by 45.6% in the 1st quarter. IHT Wealth Management LLC now owns 3,068 shares of the transportation company’s stock valued at $159,000 after buying an additional 961 shares during the last quarter. 87.68% of the stock is owned by hedge funds and other institutional investors.

Shares of Delta Air Lines opened at $54.71 on Friday, MarketBeat Ratings reports. Delta Air Lines, Inc. has a 1 year low of $44.59 and a 1 year high of $60.79. The firm has a market cap of $38.26 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.40 and a quick ratio of 0.31.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 12th. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.05. Delta Air Lines had a return on equity of 26.75% and a net margin of 7.72%. The business had revenue of $11.78 billion during the quarter, compared to the consensus estimate of $11.73 billion. During the same quarter last year, the firm posted $1.64 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. sell-side analysts forecast that Delta Air Lines, Inc. will post 5.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 16th. Shareholders of record on Thursday, July 26th will be issued a dividend of $0.35 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, July 25th. This represents a $1.40 annualized dividend and a yield of 2.56%. Delta Air Lines’s dividend payout ratio (DPR) is currently 28.40%.

Several equities research analysts have recently commented on DAL shares. JPMorgan Chase & Co. raised Delta Air Lines to a “buy” rating in a report on Monday, April 30th. ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 17th. Morgan Stanley increased their price objective on Delta Air Lines from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, April 20th. Imperial Capital cut their price target on Delta Air Lines from $70.00 to $68.00 and set an “outperform” rating for the company in a report on Saturday, June 9th. Finally, Barclays cut their price target on Delta Air Lines from $73.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $66.36.

In other Delta Air Lines news, insider Steven M. Sear sold 10,247 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $54.35, for a total transaction of $556,924.45. Following the transaction, the insider now owns 59,494 shares in the company, valued at approximately $3,233,498.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Craig M. Meynard sold 1,793 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $54.31, for a total value of $97,377.83. Following the transaction, the vice president now owns 7,170 shares in the company, valued at approximately $389,402.70. The disclosure for this sale can be found here. Insiders have sold a total of 97,681 shares of company stock valued at $5,136,493 in the last ninety days. Insiders own 0.33% of the company’s stock.

Delta Air Lines 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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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

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