OLD National Bancorp IN lifted its position in Delta Air Lines, Inc. (NYSE:DAL) by 18.8% during the 1st quarter, Holdings Channel reports. The firm owned 16,944 shares of the transportation company’s stock after buying an additional 2,687 shares during the quarter. OLD National Bancorp IN’s holdings in Delta Air Lines were worth $876,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of DAL. Washington Trust Bank lifted its position in 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 period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Delta Air Lines during the 1st quarter valued at about $26,000. Northwest Wealth Management LLC acquired a new position in Delta Air Lines during the 1st quarter valued at about $26,000. Paragon Capital Management LLC acquired a new position in Delta Air Lines during the 1st quarter valued at about $26,000. Finally, Kistler Tiffany Companies LLC acquired a new position in Delta Air Lines during the 1st quarter valued at about $26,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on DAL. Zacks Investment Research downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday. 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. Raymond James upped their target price on shares of Delta Air Lines from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Credit Suisse Group upped their target price on shares of Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, Imperial Capital restated an “in-line” rating and set a $58.00 target price on shares of Delta Air Lines in a research report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.09.
In other Delta Air Lines news, EVP Rahul D. Samant sold 13,436 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $51.16, for a total transaction of $687,385.76. Following the sale, the executive vice president now directly owns 67,598 shares in the company, valued at approximately $3,458,313.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Berkshire Hathaway Inc purchased 2,345,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $49.37 per share, with a total value of $115,776,451.49. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,554,538 shares of company stock worth $175,828,075 and have sold 145,901 shares worth $8,125,848. Company insiders own 0.47% of the company’s stock.
Shares of DAL stock opened at $55.25 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.29 and a current ratio of 0.34. The company has a market cap of $35.89 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 0.66 and a beta of 1.13. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $61.32.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.90 by $0.06. The firm had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.39 billion. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. During the same period last year, the company posted $0.74 EPS. On average, analysts forecast that Delta Air Lines, Inc. will post 6.65 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.40 annualized dividend and a yield of 2.53%. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.78%.
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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 and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
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