Traders sold shares of Delta Air Lines Inc. (NYSE:DAL) on strength during trading on Wednesday. $34.56 million flowed into the stock on the tick-up and $62.04 million flowed out of the stock on the tick-down, for a money net flow of $27.48 million out of the stock. Of all companies tracked, Delta Air Lines had the 14th highest net out-flow for the day. Delta Air Lines traded up $0.08 for the day and closed at $36.77

DAL has been the subject of a number of analyst reports. Evercore Partners Inc. reaffirmed a “hold” rating on shares of Delta Air Lines in a report on Friday, July 15th. Imperial Capital initiated coverage on Delta Air Lines in a report on Wednesday. They issued an “in-line” rating and a $41.00 price target for the company. Credit Suisse Group AG raised their price target on Delta Air Lines from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, July 6th. Zacks Investment Research lowered Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Monday, June 20th. Finally, Deutsche Bank AG raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $55.99.

The firm has a market cap of $27.87 billion and a P/E ratio of 5.99. The stock’s 50-day moving average price is $37.97 and its 200 day moving average price is $42.55.

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

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

In other Delta Air Lines news, Chairman Richard H. Anderson sold 758,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $29,805,147.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George N. Mattson acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average cost of $36.50 per share, with a total value of $365,000.00. Following the purchase, the director now owns 54,750 shares of the company’s stock, valued at $1,998,375. The disclosure for this purchase can be found here.

Other hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Delta Air Lines by 25.2% in the fourth quarter. Bank of Montreal Can now owns 274,935 shares of the company’s stock valued at $13,934,000 after buying an additional 55,255 shares during the last quarter. I.G. Investment Management LTD. purchased a new stake in shares of Delta Air Lines during the fourth quarter valued at about $14,615,000. Schroder Investment Management Group increased its stake in shares of Delta Air Lines by 256.4% in the fourth quarter. Schroder Investment Management Group now owns 361,194 shares of the company’s stock valued at $18,308,000 after buying an additional 259,860 shares during the last quarter. American International Group Inc. increased its stake 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 last quarter. Finally, State of Tennessee Treasury Department increased its stake 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 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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