New Jersey Better Educational Savings Trust Sells 4,000 Shares of Delta Air Lines, Inc. (DAL)
New Jersey Better Educational Savings Trust lowered its stake in Delta Air Lines, Inc. (NYSE:DAL) by 40.0% during the second quarter, Holdings Channel reports. The firm owned 6,000 shares of the transportation company’s stock after selling 4,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in Delta Air Lines were worth $322,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of DAL. FNY Managed Accounts LLC purchased a new stake in shares of Delta Air Lines during the first quarter valued at about $100,000. Tompkins Financial Corp purchased a new stake in shares of Delta Air Lines during the first quarter valued at about $107,000. TrimTabs Asset Management LLC boosted its stake in shares of 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 during the period. Advisory Services Network LLC purchased a new stake in shares of Delta Air Lines during the first quarter valued at about $114,000. Finally, Bessemer Group Inc. boosted its stake in shares of 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 during the period. 87.65% of the stock is currently owned by institutional investors and hedge funds.
Delta Air Lines, Inc. (NYSE DAL) opened at 49.48 on Friday. Delta Air Lines, Inc. has a 12 month low of $35.84 and a 12 month high of $55.75. The company has a market cap of $36.02 billion, a P/E ratio of 9.81 and a beta of 1.20. The firm has a 50-day moving average price of $52.40 and a 200 day moving average price of $49.46.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing the Zacks’ consensus estimate of $1.66 by $0.02. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The company had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the previous year, the business posted $1.47 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that Delta Air Lines, Inc. will post $5.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be given a $0.305 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.22 dividend on an annualized basis and a yield of 2.47%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s payout ratio is currently 16.10%.
Several analysts have recently issued reports on the company. Barclays PLC assumed coverage on Delta Air Lines in a report on Thursday. They set an “overweight” rating and a $70.00 price objective on the stock. BidaskClub cut Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Vetr cut Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 price objective on the stock. in a report on Thursday, June 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price objective (up from $75.00) on shares of Delta Air Lines in a report on Friday, July 14th. Finally, ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. Delta Air Lines has a consensus rating of “Buy” and an average price target of $60.74.
In other Delta Air Lines news, EVP Joanne D. Smith sold 3,700 shares of Delta Air Lines stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total value of $199,800.00. Following the sale, the executive vice president now owns 77,223 shares in the company, valued at $4,170,042. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Craig M. Meynard sold 5,000 shares of Delta Air Lines stock in a transaction on Friday, July 14th. The shares were sold at an average price of $55.26, for a total value of $276,300.00. Following the completion of the sale, the vice president now owns 7,437 shares in the company, valued at approximately $410,968.62. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 399,000 shares of company stock worth $31,920 and sold 126,831 shares worth $6,703,732. 0.37% of the stock is owned by insiders.
About Delta Air Lines
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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