Delta Air Lines, Inc. (DAL) Shares Bought by Wedbush Securities Inc.
Wedbush Securities Inc. raised its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 3.2% during the second quarter, Holdings Channel reports. The fund owned 6,296 shares of the transportation company’s stock after buying an additional 195 shares during the period. Wedbush Securities Inc.’s holdings in Delta Air Lines were worth $338,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of 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 valued at $2,080,189,000 after buying an additional 43,777,555 shares during the period. Winslow Capital Management LLC boosted its stake in shares of 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 valued at $208,465,000 after buying an additional 4,535,724 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of 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 valued at $323,542,000 after buying an additional 3,245,791 shares during the period. Sound Shore Management Inc. CT purchased a new stake in shares of Delta Air Lines during the second quarter valued at about $158,224,000. Finally, Primecap Management Co. CA boosted its stake in shares of 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 valued at $1,043,931,000 after buying an additional 1,930,614 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.
Shares of Delta Air Lines, Inc. (NYSE DAL) opened at 47.53 on Friday. Delta Air Lines, Inc. has a one year low of $35.90 and a one year high of $55.75. The stock has a market cap of $34.60 billion, a price-to-earnings ratio of 9.42 and a beta of 1.20. The company has a 50 day moving average price of $51.98 and a 200-day moving average price of $49.44. Delta Air Lines also was the recipient of some unusual options trading activity on Wednesday. Traders acquired 20,043 call options on the stock. This represents an increase of approximately 109% compared to the typical volume of 9,579 call options.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter last year, the business posted $1.47 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Monday, August 21st. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio (DPR) is 16.10%.
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DAL has been the topic of several research reports. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a report on Tuesday, July 4th. Vetr raised Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 target price on the stock in a report on Monday, May 8th. Bank of America Corporation lifted their target price on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Citigroup Inc. lifted their target price on Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 12th. Finally, ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $60.56.
In related news, CEO Edward H. Bastian sold 25,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $48.55, for a total value of $1,213,750.00. Following the completion of the sale, the chief executive officer now owns 285,508 shares in the company, valued at approximately $13,861,413.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 3,700 shares of Delta Air Lines stock in a transaction that occurred 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 sale, the executive vice president now owns 77,223 shares of the company’s stock, valued at approximately $4,170,042. The disclosure for this sale can be found here. In the last quarter, insiders purchased 384,000 shares of company stock valued at $30,720 and sold 126,831 shares valued at $6,703,732. 0.37% of the stock is currently owned by company 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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