Cigna Investments Inc. New reduced its position in Delta Air Lines, Inc. (NYSE:DAL) by 8.0% during the second quarter, Holdings Channel reports. The firm owned 25,849 shares of the transportation company’s stock after selling 2,259 shares during the period. Cigna Investments Inc. New’s holdings in Delta Air Lines were worth $1,389,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in DAL. BlackRock Inc. raised its position in Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after buying an additional 43,777,555 shares during the period. Winslow Capital Management LLC raised its position in Delta Air Lines by 5,815,030.8% in the first quarter. Winslow Capital Management LLC now owns 4,535,802 shares of the transportation company’s stock worth $208,465,000 after buying an additional 4,535,724 shares during the period. Dimensional Fund Advisors LP raised its position in Delta Air Lines by 85.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock worth $323,542,000 after buying an additional 3,245,791 shares during the period. Primecap Management Co. CA raised its position in Delta Air Lines by 9.3% in the first quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock worth $1,043,931,000 after buying an additional 1,930,614 shares during the period. Finally, Lansdowne Partners UK LLP raised its position in Delta Air Lines by 7.3% in the first quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock worth $1,291,656,000 after buying an additional 1,918,036 shares during the period. 87.65% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines, Inc. (DAL) opened at 49.67 on Thursday. The company has a 50-day moving average price of $52.59 and a 200 day moving average price of $49.46. Delta Air Lines, Inc. has a 52 week low of $35.84 and a 52 week high of $55.75. The company has a market cap of $36.16 billion, a PE ratio of 9.85 and a beta of 1.20.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The business had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.47 EPS. On average, equities research analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s payout ratio is presently 16.10%.

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A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research report on Tuesday, July 4th. Vetr upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 target price on the stock in a research report on Monday, May 8th. Bank of America Corporation boosted their target price on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Citigroup Inc. boosted their target price on Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Finally, ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $60.16.

In related news, EVP Joanne D. Smith sold 3,700 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the completion of the transaction, the executive vice president now owns 77,223 shares in the company, valued at $4,170,042. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $48.55, for a total transaction of $1,213,750.00. Following the transaction, the chief executive officer now owns 285,508 shares of the company’s stock, valued at approximately $13,861,413.40. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 394,000 shares of company stock valued at $31,520 and have sold 131,306 shares valued at $6,924,439. Insiders own 0.37% of the company’s stock.

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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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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