First National Trust Co. decreased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,529 shares of the transportation company’s stock after selling 636 shares during the period. First National Trust Co.’s holdings in Delta Air Lines were worth $1,641,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new stake in Delta Air Lines during the first quarter valued at $100,000. TrimTabs Asset Management LLC raised its stake in Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock valued at $111,000 after buying an additional 1,136 shares in the last quarter. Advisory Services Network LLC bought a new stake in Delta Air Lines during the first quarter valued at $114,000. Bessemer Group Inc. raised its stake in Delta Air Lines by 104.3% in the second quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after buying an additional 1,298 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock valued at $127,000 after buying an additional 793 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.
Shares of Delta Air Lines, Inc. (DAL) traded down 1.00% during mid-day trading on Wednesday, hitting $46.68. The company had a trading volume of 1,072,989 shares. Delta Air Lines, Inc. has a one year low of $35.90 and a one year high of $55.75. The company has a market capitalization of $33.98 billion, a P/E ratio of 9.25 and a beta of 1.20. The firm’s 50-day moving average price is $51.63 and its 200 day moving average price is $49.47. Delta Air Lines also was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 12,043 put options on the company. This represents an increase of 131% compared to the average daily volume of 5,215 put options.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 earnings per share. Analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.305 per share. The ex-dividend date is Monday, August 21st. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a yield of 2.59%. Delta Air Lines’s payout ratio is 16.10%.
Several research firms have recently weighed in on DAL. Barclays PLC began coverage on Delta Air Lines in a research note on Thursday, August 10th. They set an “overweight” rating and a $70.00 price objective for the company. Wolfe Research raised Delta Air Lines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. They noted that the move was a valuation call. BidaskClub lowered Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Vetr lowered Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 target price for the company. in a report on Thursday, June 1st. Finally, Morgan Stanley reduced their target price on Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Delta Air Lines has an average rating of “Buy” and an average price target of $62.16.
In related news, EVP Joanne D. Smith sold 3,700 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the transaction, the executive vice president now directly owns 77,223 shares in the company, valued at $4,170,042. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO W Gilbert West sold 26,131 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $50.47, for a total transaction of $1,318,831.57. Following the transaction, the chief operating officer now owns 89,232 shares in the company, valued at $4,503,539.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 377,000 shares of company stock worth $30,160 and have sold 101,831 shares worth $5,489,982. 0.37% of the stock is currently owned by insiders.
Delta Air Lines Company 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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