Delta Air Lines Inc. (NYSE:DAL) traded down 6.9% on Tuesday . The company traded as low as $36.70 and last traded at $36.75, with a volume of 11,249,620 shares traded. The stock had previously closed at $39.48.

A number of equities research analysts recently weighed in on the company. Evercore Partners Inc. restated a “hold” rating on shares of Delta Air Lines in a research note on Friday, July 15th. Zacks Investment Research cut Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Monday, June 20th. Deutsche Bank AG restated a “hold” rating on shares of Delta Air Lines in a research note on Sunday, April 17th. Credit Suisse Group AG upped their price objective on Delta Air Lines from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 6th. Finally, Argus restated a “buy” rating and set a $60.00 price objective on shares of Delta Air Lines in a research note on Friday, July 15th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $58.39.

The firm has a market cap of $27.63 billion and a P/E ratio of 5.936. The stock has a 50-day moving average price of $38.01 and a 200 day moving average price of $43.39.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 14th. The company reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.05. The business had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.51 billion. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.27 earnings per share. Analysts forecast that Delta Air Lines Inc. will post $5.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 12th will be issued a dividend of $0.2025 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.14. This represents a $0.81 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Wednesday, August 10th.

In other news, CFO Paul A. Jacobson bought 25,000 shares of Delta Air Lines stock in a transaction dated Monday, July 25th. The stock was acquired at an average cost of $38.91 per share, with a total value of $972,750.00. Following the acquisition, the chief financial officer now owns 328,631 shares of the company’s stock, valued at $12,787,032.21. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 20,000 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $42.62, for a total value of $852,400.00. Following the completion of the sale, the chief executive officer now directly owns 282,302 shares of the company’s stock, valued at $12,031,711.24. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of DAL. Matarin Capital Management LLC purchased a new stake in Delta Air Lines during the fourth quarter valued at $1,568,000. Atlanta Capital Group increased its stake in Delta Air Lines by 51.6% in the fourth quarter. Atlanta Capital Group now owns 44,031 shares of the company’s stock valued at $2,232,000 after buying an additional 14,979 shares during the last quarter. Dai Ichi Life Insurance CO. LTD. increased its stake in Delta Air Lines by 46.7% in the fourth quarter. Dai Ichi Life Insurance CO. LTD. now owns 55,027 shares of the company’s stock valued at $2,789,000 after buying an additional 17,512 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Delta Air Lines by 0.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 59,371 shares of the company’s stock valued at $3,010,000 after buying an additional 350 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in Delta Air Lines by 0.6% in the fourth quarter. Advantus Capital Management Inc now owns 75,202 shares of the company’s stock valued at $3,812,000 after buying an additional 437 shares during the last quarter.

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.

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