Delta Air Lines Inc. (NYSE:DAL) shares fell 1.5% during mid-day trading on Thursday . The stock traded as low as $36.85 and last traded at $36.96, with a volume of 8,095,799 shares trading hands. The stock had previously closed at $37.51.

Several brokerages have recently issued reports on DAL. Raymond James Financial Inc. reaffirmed an “outperform” rating on shares of Delta Air Lines in a research note on Wednesday, June 15th. Deutsche Bank AG raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, July 12th. Argus reaffirmed a “buy” rating and issued a $60.00 target price on shares of Delta Air Lines in a research note on Friday, July 15th. Bank of America Corp. reaffirmed a “buy” rating and issued a $65.00 target price on shares of Delta Air Lines in a research note on Tuesday, May 17th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $55.00 price target on shares of Delta Air Lines in a research report on Thursday, August 11th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $58.39.

The firm has a market capitalization of $27.87 billion and a P/E ratio of 5.99. The firm has a 50-day moving average of $37.98 and a 200 day moving average of $42.70.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 14th. The company reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.05. During the same quarter in the previous year, the company earned $1.27 earnings per share. The company earned $10.45 billion during the quarter, compared to the consensus estimate of $10.51 billion. The business’s revenue was down 2.4% on a year-over-year basis. Equities analysts predict that Delta Air Lines Inc. will post $5.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be issued a $0.2025 dividend. This represents a $0.81 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, August 10th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.14.

In related news, Director George N. Mattson bought 10,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average cost of $36.50 per share, for a total transaction of $365,000.00. Following the completion of the acquisition, the director now directly owns 54,750 shares of the company’s stock, valued at approximately $1,998,375. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard H. Anderson sold 758,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $40.07, for a total value of $30,373,060.00. Following the completion of the sale, the chairman now owns 743,827 shares in the company, valued at $29,805,147.89. The disclosure for this sale can be found here.

A number of hedge funds recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Delta Air Lines by 12.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,716,397 shares of the company’s stock valued at $188,385,000 after buying an additional 404,763 shares during the last quarter. Calvert Investment Management Inc. raised its position in shares of Delta Air Lines by 32.2% in the fourth quarter. Calvert Investment Management Inc. now owns 58,908 shares of the company’s stock valued at $2,986,000 after buying an additional 14,346 shares during the period. American International Group Inc. raised its position in shares of Delta Air Lines by 12.9% in the fourth quarter. American International Group Inc. now owns 376,915 shares of the company’s stock valued at $19,105,000 after buying an additional 43,127 shares during the period. State of Tennessee Treasury Department raised its position in shares of Delta Air Lines by 43.3% in the fourth quarter. State of Tennessee Treasury Department now owns 1,326,208 shares of the company’s stock valued at $67,226,000 after buying an additional 400,552 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of Delta Air Lines by 12.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 1,251,038 shares of the company’s stock valued at $63,415,000 after buying an additional 142,808 shares during the period.

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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